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Gazprom, Rosneft New Licenses on Arctic Shelf

Gazprom, Rosneft New Licenses on Arctic ShelfGazprom, Rosneft New Licenses on Arctic Shelf

Russian energy giants Gazprom and Rosneft may get new licenses for developing hydrocarbon deposits on the Arctic shelf in the coming months, Russia's Natural Resources Minister Sergey Donskoy said on Tuesday,

“I believe new licenses will be issued in winter — in December or January next year,” he said.  Unallocated deposit blocs remained on the shelf, while Gazprom and Rosneft are filing applications, the minister was quoted by ITAR-TASS as saying.

As of August 1, 2014, Gazprom and Rosneft received 113 hydrocarbon blocks on the Russian Arctic shelf. In early September, the Russian government granted Gazprom the right to develop the North-Western hydrocarbon bloc while Rosneft received the license for the Deryuginskoye deposit.

Under the Russian law on subsoil, these continental shelf blocs of federal significance are provided for exploration and development without auctions.

  Rosneft to Choose New Partner

Rosneft will submit a plan of Arctic shelf development considering sanction restrictions until the end of 2014, Donskoy said.

 “Now about the countries, which want to participate. China, for example, has stated its interest in the Arctic. I believe Rosneft should independently choose partners from among the countries, which have not set any sanctions against Russia and a final choice will depend on this,” the minister said.

“We’re ready to consider proposals from those who will be interested in taking part in the project,” the minister said.

The US oil giant ExxonMobil earlier suspended partnership with Rosneft on the shelf of the Kara Sea in the Russian Arctic over US sectoral sanctions against Moscow over the Ukraine crisis.

 

Financialtribune.com