Rosneft, Statoil start exploration operations in Barents Sea


Rosneft, Statoil start exploration operations in Barents Sea

MOSCOW -- Rosneft and Statoil Petroleum AS started exploration operations at the Pingvin License PL713 prospect in the Norwegian section of the Barents Sea on Aug. 18.

The first exploration well, Pingvin-1, will be drilled by the Transocean Spitsbergen rig. The water depth is 422 m and the drilling target total vertical depth (TVD) is 1,516 m. The companies expect to analyse the drilling results until the end of 2014.

RN Nordic Oil AS is partner in the license with Statoil (the operator), North Energy ASA and Edison International Norway Branch.

RN Nordic Oil AS, a subsidiary of Rosneft, will be involved in the operations on the project.

The start of exploration operations marks an important milestone in developing the cooperation between Rosneft and Statoil. The companies plan to implement their experience of exploration and development of hydrocarbon fields in regions with harsh climates.

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