Exploration & Production

Rosneft and BP to develop resources in northern Russia

Rosneft and BP have agreed to develop subsoil resources in the Yamalo-Nenets Autonomous District in northern Russia.
By Staff reporter 21 December 2017 0 28880

Rosneft and BP have agreed to develop subsoil resources within the Kharampurskoe and Festivalnoye licence areas of the Yamalo-Nenets Autonomous District in northern Russia.

The areas contain geological reserves exceeding 880 billion cubic metres of gas, Rosneft said in a press release.

The project envisages the development of the conventional gas reserves of the Cenomanian deposit and pilot production and subsequent full-scale development of the Turonian deposit as well as oil production optimisation and efficiency, the company said.

Rosneft will own 51% and BP will hold a 49%...