Rosneft grabs another two Arctic licenses

Soon ready for more drilling in the oil-rich Pechora Sea. Photo:

Without a tender, Russia’s state-owned oil company Rosneft gets hold of another two valuable offshore field licenses in the Arctic.


Russian PM Dmitry Medvedev on 15 November signed the document, which grants the powerful oil company ownership of two rich fields in the Pechora Sea. The Pomorsky and Pomorsky-2 are believed to hold between 37-42 million tons of oil equivalents, reports. The fields are part of the Severo-Pomorsky and Severo-Kolokolmorsky structures, both located in the western part of the Pechora Sea.

As previously reported, Rosneft has applied at the Ministry of Natural Resources for as many as 24 offshore Arctic licenses. From before, the company controls 14 licenses in Arctic waters.

The government of Dmitry Medvedev, which long has announced its intension to liberalize the currently rigid regulations on shelf development, has been increasingly confronted by Rosneft and its powerful leader Igor Sechin. While the government wants to open up the resource-rich Arctic shelf for more companies, also private and foreign, Rosneft wants to fortify its shelf monopoly position.