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”.
Read the latest issue of Oilfield Technology in full for free: Issue 1 2021
Oilfield Technology’s first issue of 2021 begins with a look at US tight oil’s prospects this year. The issue then moves on to cover completions technology, production forecasting, electric fracturing, sand recovery and more.
Exclusive contributions come from Rystad Energy, Archer, Weatherford, Halliburton, CGG, NOV, TETRA Technologies, Clariant and more.
Read the article online at: https://www.oilfieldtechnology.com/exploration/04062021/novatek-and-gazprom-neft-to-develop-east-siberia-offshore-licence/