The world's largest listed oil producer, Russia's Rosneft (ROSN.RS), plans to invest $1.5 billion to survey the East Arctic shelf, deputy general director at Rosneft-Shelf-Far-East said Friday, Interfax news agency reported.
The world's largest listed oil producer, Russia's Rosneft (ROSN.RS),
plans to invest $1.5 billion to survey the East Arctic shelf, deputy general
director at Rosneft-Shelf-Far-East said Friday, Interfax news agency reported.
Oleg Sivousov also said investments in
Far East
and
Arctic projects have so far totalled $46.4 billion, Interfax reported.
The
Arctic
is one of the few remaining places that can move
the needle for oil giants in terms of production and reserves, but the
technical challenges are formidable. At the end of January, Rosneft received
licences for 12 plots of the Barents, Kara, Chukchi and Laptev seas.
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