Rosneft: COSL to drill two wells in Okhotsk Sea

  • Business & Finance

China’s COSL signed a contract with Statoil and Rosneft to drill two exploration wells in the Magadan-1 and Lisyansky areas of the Okhotsk Sea in 2016. The driller has been hired by Magadanmorneftegaz, Lisyanskmorneftegaz, joint ventures of Rosneft and Statoil.

COSL offered its semi-submersible drilling rig Nanhai-9 and won the tender based on a combined score of technical and economic parameters, Rosneft said in a statement.

Igor Sechin, Rosneft Chairman of the Management Board, said: “The agreements reached open up new prospects for further cooperation between leaders of the oil and gas industry in Russia, Norway and China in the exploration of oil and gas resources.”

Russia’s Rosneft and Norway’s Statoil signed a Cooperation Agreement in 2012 to jointly explore areas of the Russian shelf and for Rosneft to join in the exploration of the Norwegian shelf. Under this agreement, the companies set up joint ventures, completed a series of exploration operations, including 2D and 3D seismic and geotechnical surveys.

The Magadan-1 well will be at 100 km offshore, and the Lisyansky well will be about 90 km offshore. The Sea of Okhotsk is located south of the arctic circle and both wells are located in areas with water depths of less than 150 meters.

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