Rosneft, Statoil Start Seismic Survey at Sea of Okhotsk Blocks

Rosneft starts field seismic prospecting at the license blocks Lisyansky, Kashevarovsky and Magadan-1. Rosneft holds geological study at the blocks jointly with its partner Statoil ASA (Norway).

Currently 2D seismic along with shipborne gravity magnetic survey are planned for the blocks. The data is to be collected by geophysical methods from a specialized research vessel Academik Fersman.

The works will cover a total of 10,000 linear kilometers: 5,300 km on the Lisyansky licensed block, 2,000 km on the Kashevarovsky block and 2,700 km on Magadan-1.

Environmental and fishery research are to be performed at all the three blocks in 2013 by LLC Environmental Company of Sakhalin, a contractor for this work.

Another planned environmental protection measure is studying the subsea wellhead of the Khmitevskaya-2 well drilled on the Magadan-1 block in the 90’s.

The field stage was preceded by large-scale preparation, i.e. detailed assessment of the planned works’ environmental impact and receiving the necessary regulatory agency approvals. This preparation has been completely finished.

Apart from that, an environmental monitoring and production control program will be implemented during the seismic prospecting work to prevent and minimize possible negative environmental impact.

Rosneft geological prospecting program in the Sea of Okhotsk is performed with full compliance with Russian environment protection laws and license agreements.

Rosneft obtained licenses for geological study and hydrocarbon production at license blocks Lisyansky, Kahsevarovsky and Magadan-1 in the Sea of Okhotsk late in 2011. The total prospective recoverable resources according to the Company and independent auditor DeGolyer and MacNaughton stand at 1,741 million tonnes of oil equivalent.

The current work at the blocks is performed by a regional management company OJSC RN Shelf Far East, a Rosneft subsidiary.