East-Prinovozemelsky field

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East-Prinovozemelsky field
East-Prinovozemelsky field
Location of the East-Prinovozemelsky blocks
Country Russia
Location Kara Sea
Offshore/onshore offshore
Operator(s) Rosneft
Partners Rosneft
BP
Production
Estimated oil in place 35,800 million barrels (~Expression error: Unexpected < operator.Expression error: Unexpected < operator.Expression error: Unexpected < operator.Expression error: Unexpected < operator.Expression error: Unexpected < operator.Expression error: Unexpected < operator.Expression error: Unexpected < operator.Expression error: Unexpected < operator.Expression error: Unexpected < operator.Expression error: Unexpected < operator.Expression error: Unexpected < operator.Expression error: Unexpected < operator.Expression error: Unexpected < operator.Expression error: Unexpected < operator.×10^Expression error: Unexpected < operator. t)
Estimated gas in place (billion cubic meters) 10,200

The East-Prinovozemelsky field (also referred as Vostochno-Prinovozemelskoye structure - meaning: East of Novaya Zemlya structure) is a gigantic undeveloped Arctic oil and gas field located on the continental shelf of Russia in the South Kara Sea between the Yamal Peninsula and Novaya Zemlya island.

History

The field is divided into three license blocks: EPNZ-1, EPNZ2, and ENPZ-3.[1][2] In October 2010, licenses for all three blocks were awarded to Russian oil company Rosneft.[3][4] In January 2011, Rosneft announced that it will form a strategic alliance with BP to develop the East-Prinovozemelsky oil and gas field.[1][2][4] For the development activities, a joint operating company will be created in which Rosneft will have 66.67% and BP will have 33.33% of shares. Initial stages of exploration activities will be financed by BP.[5]

Reserves

The South Kara Sea hydrocarbons basin lies on the same geological trend with the Western Siberian hydrocarbon province.[5] The East-Prinovozemelsky area covers 125,000 square kilometres (48,000 sq mi).[2] According to Rosneft, the estimated oil in place is 35.8 billion barrels (5.69×10^9 m3) and the estimated natural gas in place is 10.3 trillion cubic meters. Of this 21.7 billion barrels (3.45×10^9 m3) of oil and 2.4 trillion cubic meters of gas lays in EPNZ-1 block, 12.5 billion barrels (1.99×10^9 m3) of oil and 2.2 trillion cubic meters of gas in EPNZ-2, and 1.6 billion barrels (250×10^6 m3) of oil and 5.7 trillion cubic meters of gas in EPNZ-3.[5]

References

  1. ↑ 1.0 1.1 "BP, Rosneft form Kara Sea alliance". Offshore Magazine (PennWell Corporation). 2011-01-17. http://www.offshore-mag.com/index/article-display/7175819724/articles/offshore/company-news/russia/2011/January/bp_-rosneft_form_kara.html. Retrieved 2011-01-30.
  2. ↑ 2.0 2.1 2.2 "BP and Russia in Arctic oil deal". BBC News. 2011-01-14. http://www.bbc.co.uk/news/business-12195576. Retrieved 2011-01-30.
  3. ↑ "Rosneft and Gazprom clinch Arctic acreage". Upstream Online (NHST Media Group). 2010-10-15. (subscription required). http://www.upstreamonline.com/live/article232846.ece. Retrieved 2011-01-30.
  4. ↑ 4.0 4.1 "BP and Rosneft in exploration pact". Upstream Online (NHST Media Group). 2011-01-14. (subscription required). http://www.upstreamonline.com/live/article241699.ece. Retrieved 2011-01-30.
  5. ↑ 5.0 5.1 5.2 "Rosneft Strategic Alliance with BP" (PDF). Rosneft. January 2011. http://www.rosneft.ru/attach/0/62/46/Rosneft_Strategic_Alliance_with_BP.pdf. Retrieved 2011-01-30.


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