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23.09.2011

Trutnev: Russia will begin shelf exploration in 2012

Russia is ready to start geological explorations of the newly delineated area in the Barents Sea in 2012, Russia’s Minister for Natural Resources Yury Trutnev said on Thursday. The explorations will be financed through the federal budget.

The agreement with Norway on delimitation of the Barents Sea has opened up new possibilities for Russia, Trutnev said on the second International Arctic Forum in Arkhangelsk today:

"Forty years of discussions are over, and we can start cooperating", he said. The agreement’s requirement for joint exploitation of potential border-crossing fields gives great opportunities for exchange of knowledge and technology.

In 2012, Russia will begin exploration of the Fedynski Ridge deposit (also known as Hjalmar Johansen High in Norway), located in the southern part of the Barents Sea, Trutnev said.

Geological surveys conducted by Russia in the disputed area in the 1980’ies showed that the Fedynski Ridge might contain some 5.8 trillion cubic meters of gas, BarentsObserver reported.

Norway has already finished the first season of seismic survey in the newly established border area in the Barents Sea. The vessel “R.V Harrier Explorer” and the company PGS Exploration have collected a total of 11,400 linear kilometres of two-dimensional seismic data. The seismic surveys will be concluded next autumn, which means that the Norwegian Petroleum Directorate will have the results ready sometime in the winter 2013. The first drilling will not start until 2014.

Copyright 2011, Barents Observer. All rights reserved.

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