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Arctic News

 

Gazprom Neft, Novatek Form Arctic E&P JV

Jun 04, 2021

Russian energy companies Novatek and Gazprom Neft on Friday created an exploration and production joint venture which will focus on work in the East Siberian Sea and the Chukchi Sea.As part of the agreement, Novatek acquired a 49% participation interest in OOO Gazpromneft Sakhalin, which owns a geological survey, exploration and production license for the North-Vrangelevskiy license area.  'The transaction…

Rosneft Restarts Kara Sea Drilling After Sanctions Pause

Aug 18, 2020

Russia's largest oil producer Rosneft has started drilling on two wells in the Kara Sea in the Russian Arctic, its Chief Executive Igor Sechin said on Tuesday.It is the company's first project in the Kara Sea since it was forced to suspend a joint venture project in the area with U…

Gazprom Neft Sells Its First Arctic Oil Cargo to China

Jul 16, 2020

Russia's Gazprom Neft has sold its first ever Arctic oil cargo to China to ChemChina, two sources familiar with the deal told Reuters on Thursday.This week, Gazprom Neft said it had sent 144,000 tonnes of light Novy Port oil grade to the Chinese…

Gazprom Starts Construction of Arctic Offshore Platform

Jun 26, 2020

Construction of Gazprom's ice-resistant offshore production platform for the development of the Kamennomysskoye-Sea field began Thursday at the shipyard of Southern Shipbuilding and Repair Center (part of United Shipbuilding Corporation) in the Astrakhan Region…

Keppel Rejects Awilco Drilling's Rig Contract Termination. Ponders Legal Action

Jun 09, 2020

Singapore's offshore rig builder Keppel is considering taking legal action against Awilco Drilling after the drilling company on Monday said it had terminated a rig construction contract with Keppel.Awilco Drilling said Monday that its subsidiary…

Unique Arctic Journey for Russian LNG Carrier

Jun 01, 2020

Sovcomflot's Arc7 ice-class Christophe de Margerie liquefied natural gas (LNG) carrier has made history by successfully transiting the Eastbound ice-covered part of the Northern Sea Route (NSR) in May, carrying LNG from Novatek's Yamal LNG project to China…

Mammoet Lands its ‘Biggest Ever’ Contract at Arctic LNG 2 Project

May 25, 2020

Dutch heavy lift and transportation company Mammoet has said it has won its largest-ever contract at the Arctic LNG 2 project in Russia.Mammoet said Monday the contract was awarded by Technip-led joint venture NovArctic in cooperation with Saipem and NIPIgas…

Japanese Bank Puts Oil Sands, Arctic Drilling on 'Restricted' List

May 13, 2020

Mitsubishi UFJ Financial Group said on Wednesday it has put oil sands extraction and drilling for crude oil and gas in the Arctic on its 'restricted transaction' list, potentially a further tightening on financing fossil fuels by Japanese banks…

Charlie-1 looms as potential company maker for 88 Energy

Feb 25, 2020

Alaskan focused oil and gas group, 88 Energy Ltd (ASX:88E) provided a further update on Monday regarding the progress of the group’s Charlie-1 appraisal well on the North Slope of Alaska.With the rig mobilised and drilling to start this weekend…

Equinor, Rosneft to develop Arctic oilfield

Dec 23, 2019

Russia's Rosneft and Norway's Equinor have agreed details on how to develop an Arctic Siberian onshore oilfield, they said on Monday, their first joint investment since agreeing a strategic partnership in 2012.The firms expect to extract about…

Russian-led Arctic Oil Project to Cost $157 Bln

Oct 28, 2019

A ambitious new Arctic oil project led by Russia's top oil producer Rosneft will require about 10 trillion roubles ($157 billion) of investment, Russia's deputy energy minister Pavel Sorokin told reporters.Vostok Oil, a joint project of Rosneft and Independent Petroleum Company (IPC)…

Russia: Arctic Offshore Oil Feasible at $130/bbl

Sep 10, 2019

The head of Russia's Rosnedra subsoil agency said on Tuesday that the development of the Pobeda (Victory) offshore Arctic oilfield in the Kara Sea is feasible only at oil prices of $130 to $140 per barrel, Interfax news agency reported.Rosneft…

Green Light for Arctic LNG 2

Sep 06, 2019

The $21.3 billion Arctic liquefied natural gas (LNG)-2 project on the Gydan Peninsula headed by the Russian largest independent natural gas producer Novatek won a green light on Thursday.The project will have a production capacity of 19.8 million…

Russia Open to Private Firms Developing Arctic

Sep 04, 2019

Russia's natural resources and environment minister said on Wednesday he supported allowing private oil and gas companies to work on the Arctic shelf.Speaking to reporters at an economic forum in the far eastern Russian city of Vladivostok, the minister…

Novatek Wins Arctic Gas Field

Sep 01, 2019

Novatek said that its wholly-owned subsidiary Arctic LNG 1 has won an auction for a geological survey, exploration and production license for the subsoil area including the Soletsko-Khanaveyskoye gas field.The license is located on the Gydan peninsula in Yamal-Nenets Autonomous Region…

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