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The Prirazlomnaya offshore ice-resistant oil-producing platform Russia claims to have found a massive oil reserve in the Arctic, in a discovery that could further strengthen Moscow’s hand as energy prices continue to skyrocket.
Energy giant Rosneft said the oil field beneath Pechora Sea contains an estimated 82 million tons of oil. It was found during exploratory drilling in the Medynsko-Varandeysky area, according to global financial news site MENAFN.com .
“During the tests, a free flow of oil was obtained with a maximum flow rate of 220 cubic meters a day,” Rosneft said in a news release, describing the oil as “light, low-sulfur, low viscosity.” Russia makes massive oil discovery in the #Arctic .
Russia’s Rosneft has discovered a huge oil field in the Pechora Sea with an estimated 82 million tons of oil.
📸 pic.twitter.com/oyAJrQX352— Mete Sohtaoğlu (@metesohtaoglu) July 4, 2022 According to Rosneft, the exploratory work in the Pechora Sea confirmed the “substantial oil potential of the Timan-Pechora province on the shelf and served as the foundation for continuing the study and development of the region.”
Rosneft reportedly holds 28 offshore licenses in the Arctic, eight of them in the Pechora Sea, a body of water above northwest Russia. The Pechora Sea is the the southeastern portion of the larger Barents Sea, and is an active oil exploration region. It has an average depth of just 20 feet, making drilling easier despite the fact that it is blocked by floating ice for more than half the year.
Russia is the world’s third-biggest oil producer, behind only the U.S. and Saudi Arabia. Although it supplies much of Western Europe with oil for gasoline and heating, global leaders are working on a complex plan to cap how much Russia can charge for its oil in an effort to punish Moscow for its war on […]
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