Rosneft, Statoil discuss joint drilling

Rosneft’s Igor Sechin has met with Statoil’s Eldar Sætre to discuss the development of joint projects, a press release from Rosneft informs.

Among the projects is upcoming drilling in the Sea of Okhotsk, the Russian company says. 

According to the press release, the two company leaders after the meeting agreed that «the cooperation develops strictly in line with adopted plans».

The two licenses Magadan-1 and Lisyansky in the Sea of Okhotsk are both part of the comprehensive cooperation agreement between Rosneft and Statoil signed in May 2012. 

It is believed that the China Oilfield Services Ltd (COSL) in the course of 2016 will drill two wells in the license areas.

The Rosneft-Statoil agreement also includes the Perseevsky area in the Barents Sea and the land-based North-Komsomolskoye license in Western Siberia.

In all the areas, Statoil will cover costs for exploration and drilling. Joint ventures are to be established, of which Rosneft holds 66,67 percent and Statoil 33,33 percent.

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According to the cooperation agreement, a total of six wells are to be drilled in the period 2016-2021.