Russia’s massive offshore Arctic oil & gas discovery could dwarf Gulf of Mexico & Middle East’s energy reserves — NY Pilot Business News

Russian energy giant Rosneft has actually revealed the discovery of a “unique” gas deposit in the Kara Sea including an approximated 514 billion cubic meters of naturalgas

The business states the discovery could develop a brand-new cluster for oil and gas production in the location.

The field, which has actually been called after Soviet Marshal Konstantin Rokossovsky, is Rosneft’s 3rd discovery in theArctic It is part of the business’s drilling project to establish the area’s oil and gas capacity.

The job was begun by President Vladimir Putin in 2014. It has actually led to the discovery of one of the world’s biggest oil and gas fields, the Pobeda field. Its overall recoverable reserves stand at some 130 million heaps of oil and 422 billion cubic meters of gas.

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The 2nd found field, with an approximated 800 billion cubic meters of gas deposits, was called after Marshal Georgy Zhukov.

Overall, more than 30 “prospective structures” were recognized in the 3 locations of the Kara Sea, according toRosneft

It stated the outcomes of the drilling show “the discovery of a new Kara offshore oil province,” including that “In terms of resources, it could surpass such oil and gas-bearing provinces as the Gulf of Mexico, the Brazilian shelf, the Arctic shelf of Alaska and Canada, and the major provinces of the Middle East.”

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