June 19, 2017

PEAK OIL: Rosneft Discovers Oil in Laptev Sea.

Russian oil major Rosneft has discovered oil in the Laptev Sea after drilling its northernmost exploratory well on the Eastern Arctic shelf.

The Tsentralno-Olginskaya-1 well was the first well drilled in the Laptev Sea and is located in the Khatanga license area which has water depths of up to 32 meters (105 feet). The company was awarded the license in November 2015 and began drilling in April this year.

The Khatanga field’s resource potential is yet to be confirmed, but seismic studies indicate 114 promising oil and gas-bearing structures, and preliminary estimates are that the sea may have a resource potential of 9.5 billion tons of oil equivalent.

Is there anywhere not awash in the stuff?