Exxon Mobil Corp. is slated to commence drilling an Arctic well this week. The company and partner, OAO Rosneft, Russia’s state oil producer, will drill the Universitetskaya prospect starting Saturday. The vessel is about 72 mi (116 km) off the coast of Novaya Zemlya, according to the Bloomberg report.
This well is the first of a multi-well drilling program Rosneft plans by 2018 to test the potential of the unexplored Arctic Ocean, the news agency reported. The prospect’s structure may contain as many as 9 billion barrels Bbbl of oil.
Drilling will be conducted by theWest Alpha semisubmersible. This MODU is rated to drill in water depths of up to 2,000 ft (610 m).