The Rosneft has been awarded a five-year exploration license for part of the offshore Sakhalin V block. The Alliance of BP, OJSC NK Rosneft, and Rosneft-Sakhalinmorneftegas will develop Sakhalin V hydrocarbons off the east coast of mainland Russia.
The Rosneft has been awarded a five-year exploration license for part of the offshore Sakhalin V block. The Alliance of BP, OJSC NK Rosneft, and Rosneft-Sakhalinmorneftegas will develop Sakhalin V hydrocarbons off the east coast of mainland Russia. It will jointly carry out all operations, including geological studies of the subsurface of the license area. The license will be held by a joint venture company, which will set be up by the alliance. The exploration license is for the Kaigansky-Vasuykansky blocks in the East-Smidt offshore area in the southern part of the Sakhalin V tract. The blocks cover a total area of about 10,000 sq km.The exploration license specifies a work program that includes seismic acquisition and exploration drilling. The alliance will purchase seismic data from a survey being undertaken recently by Dalmorneftegas and PGS over Sakhalin V. Depending on the analysis of this data, drilling could begin in 2004.
