Pechenga discusses Fedynsky oil

Pechenga and its administrative center of Nikel is well known for its heavy nickel industry.

A public hearing on the development of one of the most perspective oil and gas areas in the Barents Sea takes place in Pechenga, the Russian municipality bordering on Norway and Finland.


The event, which took place in the town of Nikel, included the presentation of exploration activities planned for the period 2015-2017. The Fedynsky development program includes geological and geochemical mapping, as well as an environment assessment study, a press release from the Murmansk regional government reads.

The 38,000 square km big Fedynsky license area is located along the borderline with Norway and was made available for exploration following the delimitation of the area in 2011. The field, in Norway better known as the Hjalmar Johansen High, is considered among the most perspective areas in the whole Barents Sea.

Rosneft estimates the Fedynsky recoverable hydrocarbon resources to 18.7 billion barrels of oil equivalents.

Although not much involved in oil and gas-related activities, Pechenga is the Russian land area located closest to the Fedynsky waters. The municipality has a cloastline which includes the ice-free Pechenga Bay and the Fisherman Peninsula.

The Fedynsky license is controlled by Rosneft, who in 2012 teamed up with Eni in a major project partnership. The two companies commit themselves to conduct 6,500 kilometres of 2D seismic in the area before 2017 and 1,000 square kilometres of 3D seismic by 2018. The first exploration well should be drilled before 2020, and, if successful, a second exploration well is to be drilled by 2025.