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Russia hopes to find ‘new Saudi Arabia’ in Arctic waters – Sechin

Russia hopes to discover another Saudi Arabia in the freezing waters of the Arctic, Igor Sechin said over the weekend, as his company Rosneft kicked off a multi-billion dollar drilling campaign with ExxonMobil, despite Western sanctions.
By James Byrne and Staff reporter 11 August 2014 Europe & Russia / Exploration & Production 0 12643

Russia hopes to discover another Saudi Arabia in the freezing waters of the Arctic, Igor Sechin said over the weekend, as his company Rosneft kicked off a multi-billion dollar drilling campaign with ExxonMobil, despite Western sanctions.

"We hope to open a new Kara Sea oil-bearing province, which… in terms of the volume of its resources, should surpass such oil and gas provinces as the Gulf of Mexico, the Brazil shelf, or the Alaska and Canada shelf, and will be comparable with Saudi Arabia’s resource base," said...