Veille 2.1

Russian energy company Rosneft announced the discovery of a massive oil resource in the Pechora Sea with an estimated 82 million tons of oil. A drilling campaign in the Medynsko-Varandeysky area led to the discovery of the field. “During the tests, a free flow of oil was obtained with a maximum flow rate of 220 cubic meters a day,” the company’s statement read on Wednesday, noting that the “oil is light, low-sulfur, low viscosity.” According to Rosneft, the exploratory work in the Pechora Sea confirmed the "substantial oil potential of the Timan-Pechora province on the shelf and served as the foundation for continuing the study and development of the region."