"The expedition plans to set up Rosneft’s first scientific base in the Khatanga Gulf, which will monitor climate year-round and study ice in the Laptev Sea in winter. We plan to start building and outfitting the living quarters by the end of 2016," the statement read.
The Arctic outpost will enable Rosneft, a majority state-owned company, to develop frost-resistant technologies and materials. It will also monitor local wildlife, icebergs and changing ocean conditions in Russia’s territorial waters.
Russia has been increasingly active in exploring and developing its offshore geological deposits, which is a major untapped source of wealth. The Arctic shelf is believed to hold oil and natural gas worth over $30 trillion, according to the Ministry of Natural Resources.