• 7 minutes Get First Access To The Oilprice App!
  • 11 minutes Japanese Refiners Load First Iran Oil Cargo Since U.S. Sanctions
  • 13 minutes Oil prices forecast
  • 17 minutes Renewables in US Set for Fast Growth
  • 4 hours Chinese FDI in U.S. Drops 90%: America's Clueless Tech Entrepreneurs
  • 39 mins Socialists want to exorcise the O&G demon by 2030
  • 22 hours Is Natural Gas Renewable? I say yes it is.
  • 3 hours Oceans "Under Fire" Of Plastic Trash
  • 6 hours Good Marriage And Bad Divorce: Germany's Merkel Wants Britain and EU To Divorce On Good Terms
  • 1 day Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 5 hours Duterte's New Madness: Philippine Senators Oppose President's Push To Lower Criminal Age To 9
  • 23 hours Making Fun of EV Owners: ICE-ing Trend?
  • 22 hours Emissions from wear of brakes and tyres likely to be higher in supposedly clean vehicles, experts warn
  • 13 hours Cheermongering about O&G in 2019
  • 13 hours North Sea Rocks Could Store Months Of Renewable Energy
  • 6 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 1 day Orphan Wells

Breaking News:

Oil, Gas Industry Fears Skills Shortage

Gazprom Neft Ups Arctic Field Output

Gazprom neft offshore rig

Gazprom Neft Shelf, a subsidiary of Gazprom’s crude oil arm, announced it had increased the daily output at the Prirazlomnoyue field in the Arctic to over 6,000 tons, or 43,980 barrels daily. The increase came after the company drilled four more wells at the offshore field in the Pechora Sea, bringing the total up to six.

Production from the Prirazlomnoye field (“pri” meaning by, or at; “razlom” meaning to fracture), whose estimated reserves are 70 million tons of crude, began in 2013. For the moment, it’s the only field in the Arctic shelf of Russia where crude is being extracted.

Since the start in 2013, more than 10 million barrels of oil have been pumped at the field, which sports the Prirazlomnaya platform. The platform employs a zero-waste system that prevents the release of any by-product of drilling or oil extraction into the sea. To achieve full-scale production, Gazprom Neft plans on drilling 32 wells.

The company said at the reaching of the 10-million-barrel milestone that it now expects a peak annual output of 35 million barrels of crude.

Earlier this year, Gazprom Neft also became the first company in Russia to conduct a 30-stage fracking operation at the Yuzhno-Priobskoye field in western Siberia.

Arctic oil exploration has been a controversial issue, as the amount of recoverable reserves matches the difficulty of drilling in this extreme climate. What’s more, the environmental consequences of a spill would be difficult to control, according to Greenpeace and other environmental organizations, and could have devastating effects on local ecosystems.

A lot of international majors had Arctic plans before the oil price rout started, and suffered losses when they were forced by the market environment (and in some cases environmentalist opposition) to abandon them. Perhaps most notable among them was Shell, which had spent some US$7 billion on the project before it quit last year.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News