Rosneft obtains five new blocks in Okhotsk Sea
By order of the Russian Government oil Company Rosneft has been granted five blocks on the Sea of Okhotsk shelf for geological surveying, exploration and development. The five blocks are Magadan-1, 2 and 3, Lisyansky and Kashevarovsky, Rosneft said Monday.
According to Rosneft estimates, total recoverable resources at these deposits stand at over 1.1 billion tons of liquid hydrocarbons and 2 trillion cbm of gas, including 850 million tons of oil and 1.789 trillion cubic metres of gas at the Magadan-1, 2 and 3 blocks.
Moscow-headquartered Rosneft is an integrated oil company majority owned by the Russian Government. Rosneft ranks among the world’s top publicly traded oil and gas companies and is engaged in exploration and production of hydrocarbons, petroleum products and petrochemicals, and marketing of outputs. The Russian Government holds a 75.16-percent stake in Rosneft (through OJSC Rosneftegaz), 15% of shares are free-floated.