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Russia's Rosneft, BP to start Arctic drilling in 2015

© RIA NovostiRussia's Rosneft, BP to start Arctic drilling in 2015
Russia's Rosneft, BP to start Arctic drilling in 2015 - Sputnik International
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The Russian and British oil giants Rosneft and British Petroleum (BP) plan to start drilling in the Arctic's Kara Sea in 2015, Rosneft's vice president said on Monday.

The Russian and British oil giants Rosneft and British Petroleum (BP) plan to start drilling in the Arctic's Kara Sea in 2015, Rosneft's vice president said on Monday.

Earlier BP head Robert Dudley said the development of the three Kara Sea blocks, known as East Prinovozemelsk-1, 2 and 3, would begin in 5 or 10 years. Rosneft received the rights to drill in the area covering around 125,000 sq km in October.

Rosneft Vice President Peter O'Brien said oil extraction would be carried out in the first stage and gas would be produced later. He also said the companies were considering other possibilities in the Arctic.

Russian Prime Minister Vladimir Putin announced on Friday that Rosneft and BP had agreed on joint shelf projects in Russia and other states.

Currently, Rosneft and BP jointly develop the Sakhalin shelf in Russia's Far East.

In 2006, the companies signed a memorandum to develop the Arctic shelf. However, they have not developed any projects there.

 

MOSCOW, January 17 (RIA Novosti)

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