Rosneft Buys Huge Arctic Oilfield

Vladimir Soldatkin
Monday, December 28, 2020

Russia's Rosneft said on Monday it had bought the rights to a huge oilfield in the Taymyr peninsula in the Arctic, as it presses ahead with plans to use the Northern Sea Route to ship oil and products.

In a regulatory disclosure, Rosneft said it had bought Taymyrneftegaz, the company controlled by Rosneft's ex-chief Eduard Khudainatov which owns the huge Payakha oilfield, for an undisclosed sum.

It declined to comment further.

The potential deal was first reported by daily newspaper Kommersant earlier this month. The daily, citing a source, reported that the Payakha oilfield could be valued at around $5 billion, given its huge reserves.

The daily said field's reserves were estimated at more than 1 billion tonnes of oil, or 7.33 billion barrels. The field is now at the exploration stage, with no large-scale production. 

(Reporting by Vladimir Soldatkin and Olesya Astakhova; Editing by Mark Potter and Jan Harvey)

Categories: Mergers & Acquisitions

Related Stories

ConocoPhillips, CNOOC Put Penglai Field off China Into Full Operation

Mermaid Maritime Expands Into US Offshore Market

ADNOC, SLB Roll Out AI Platform Across More Than 120 Drilling Rigs

Serica Energy Agrees $194M Pharos Energy Acquisition

Oil Eases After Topping $100, Still Set for Weekly Rise

Eni-Petronas JV Starts Indonesia-Bound FPSO Construction

Chevron Enlists Velesto’s Jack-Up Rig for Drilling Job off Malaysia

Energean Lifts Karish Fields FPSO Oil Processing Capacity

Inpex Starts Construction of Indonesia's Abadi LNG Project

Saipem to Sell Saudi Shallow-Water Drilling Business to ADES for $285M

Current News

ConocoPhillips, CNOOC Put Penglai Field off China Into Full Operation

Mermaid Maritime Expands Into US Offshore Market

ONGC Nears Venezuela Operatorship Deals, Regains Russia’s Sakhalin-1 Stake

Fugro Secures India Deepwater Drilling ROV Contract

Vantris Energy Secures Petronas’ Offshore Drilling Work Orders

ADNOC, SLB Roll Out AI Platform Across More Than 120 Drilling Rigs

Oil Rises as Uncertainty Clouds US-Iran Peace Talks

India’s ONGC to Allocate Half of New Oil Storage to Strategic Reserves

Subsea7 Lands ‘Sizeable’ Contract for Work Offshore Brunei

FPSO for Azule Energy’s Angola Offshore Field Starts Taking Shape in China

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com