Russia identifies blocks for coming Barents licensing rounds

Nov 29, 2002 01:00 AM

Russia's Ministry of Energy made details known about its upcoming Barents 2 licensing round at the Russian Oil and Gas Sector Conference in Moscow November 20-21.
Russia's Minister of Energy Igor Yusufov said that it will be offering a total of 22 blocks in the Russian arctic in a staged licensing over the next three years that encompass an area of some 70,600 sq km with estimated reserves of approximately 16.1 boe.

Barents 2 commencing now and extending through 2003, is offering six blocks in the Pechora Sea, three this year and three next year. On offer are the Severo-Dolginskiy Block with estimated reserves of about 2.6 bn boe, the Yuzhno-Dolginskiy Block with estimated reserves of some 1.9 bn boe, and the Zapadno-Matveyevsky Block with estimated reserves of 1.3 bn boe.
In 2003, the other three blocks, Russkiy with estimated reserves of about 730 mm boe and the two Severo-Pomorsky Blocks, with some 511 bn boe.

The ministry said that the Barents 3 licensing will occur in 2003 and 2004 and include 10 blocks, four offshore the Kola Peninsula (Kolsky 1-4) and six to be offered in 2004, including the Mezhdusharskiy Vostochnyy Block off Novaya Zemlya and the Korginsky Block off the Kanin Peninsula.
Barents 4, during 2004 and 2005, will offer four blocks off Novaya Zemlya, the Papaninskaya, Mezhdusharsky, Dimitrievsky and Zapadno-Mityushikinskiy Blocks; and the Barents 5 licensing will offer the Mityushikinskiy and Krestovy Blocks off Novaya Zemlya in 2006.

Source: OGI
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