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Novatek and Gazprom Neft to develop East Siberia offshore licence

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Oilfield Technology,

Novatek and Gazprom Neft have agreed to conduct exploration work at the North-Vrangelevskiy licence area located in the eastern part of the East Siberian Sea and the western part of the Chukchi Sea. The water depth within the licence area is 20-90 m.

The transaction builds on the agreement on joint Arctic development signed by the parties in June 2019 at the Saint-Petersburg International Economic Forum.

“We are expanding our long term resource base to implement new projects in the Arctic Zone of Russia,” noted Leonid Mikhelson, NOVATEK’s Chairman of the Management Board. “We have a solid background for efficient operations on this new prospective project: successful track record of joint projects implementation with Gazprom Neft, our experience in navigating the Northern Sea Route as well as the measures taken by the Government of the Russian Federation to ensure year-round navigation along the NSR”.

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