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Russia Struggling To Expand Arctic Oil Production

Production

Oil production from Russia’s Arctic region increased in 2017 as new onshore developments and the only offshore producing platform ramped up production. But challenges in Russia’s arctic remain.

Last year, production from onshore fields in Yamal-Nenets autonomous region in northern Russia contributed the most to the rise in oil production in the Arctic. Output from the only producing offshore oil field — Prirazlomnoye — also increased in 2017. And Russia has ambitions to continue to develop its Arctic oil resources.

Russia’s ambitions, however, are not without challenges; it must contend with several factors that, for now, are preventing it from fully developing its offshore Arctic oil potential. For starters, U.S. sanctions prohibit the exports of goods, services, or technology that Russia needs to support exploration or production in Russia’s deepwater, Arctic offshore, or shale projects — all which have the potential to produce oil. Another obstacle is that only state-controlled giants Gazprom and Rosneft have access and licenses to operate in the offshore Arctic, and they are not keen on cooperating with local private companies with relevant experience.

Nevertheless, Russia had a good year in the Arctic. Oil production in the Yamal-Nenets autonomous region is expected to have increased by 13.4 percent year on year in 2017, thanks to rising production at new onshore oil and condensate fields and increased crude oil shipments from Gazprom Neft’s Novy Port project via the Arctic Gates oil terminal, the government of the Yamal-Nenets autonomous region said earlier this month. Gas production in the region is expected to have increased by 6.7 percent last year compared to the previous year.

 

In addition, at the end of last year, Vladimir Putin officially launched the $27 billion Yamal LNG project in the Arctic. Russia’s second LNG plant intended to challenge the dominance of Qatar and Australia — and perhaps the U.S. in the future — on the global LNG market.

Gazprom Neft, the oil arm of gas giant Gazprom, said in its preliminary 2017 results at the end of December that its total oil and gas production had increased by 4.2 percent compared to 2016, mostly due to the development of major new projects in the Arctic. The Novoportovskoye field, the Vostochno-Messoyakhskoye field — the northernmost onshore field in Russia — and the offshore Prirazlomnoye field contributed the most to production growth in 2017, Gazprom Neft said.

At the end of last year, Russia’s largest oil company, Rosneft, struck a new joint venture with BP, which is a 20-percent shareholder in Rosneft, to jointly develop the reserves of two license blocks in the Yamal-Nenets autonomous region — Kharampursky and Festivalny — which hold a combined 880 billion cubic meters of natural gas.

Despite growing its Arctic oil production and the government vowing to develop the region, sanctions and the unwillingness of Gazprom and Rosneft to cooperate with private Russian companies prevent Russia from fully exploring its vast Arctic oil and gas resources, Stanislav Pritchin wrote in an article published on Monday.

The Russian zone of the Arctic has the largest share, and its potential reserves are some 48 billion barrels of oil and 43 trillion cubic meters of natural gas. The only offshore production field, Prirazlomnoye, is a relatively easy platform to develop because it is close to the coast and not in very deep waters, Pritchin says.

But sanctions are preventing Russia from partnering with Western companies that have the know-how and technology to drill in Arctic waters. Apart from externally imposed restrictions, Russia has one self-imposed hurdle — only Gazprom and Rosneft have access to the Arctic shelf.

While sanctions are unlikely to be lifted soon, with increasingly tense relations between Russia and the West, part of the solution could be if the two state-controlled giants partnered with private Russian firms with more experience in subsea development, Pritchin argues

“But while that is not recognized, Russia is losing much-needed private investment and the opportunity to exploit its potential Arctic riches,” the expert says.

By Tsvetana Paraskova for Oilprice.com



141 Comments on "Russia Struggling To Expand Arctic Oil Production"

  1. MASTERMIND on Thu, 1st Feb 2018 4:05 pm 

    Clogg

    Stop spamming this site with MSM propaganda! Here are the actual numbers you blathering blowhard!

    OECD Economic Growth GDP Per Capita 1970-2015 (0.5%)
    https://imgur.com/a/HXBkr#Bv4I4AF

    Global Economic Growth GDP Per Capita (1.3%)
    https://data.worldbank.org/indicator/NY.GDP.PCAP.KD.ZG

    World Governments Gross Debt to GDP (330%)
    https://imgur.com/a/3usX7

    Global economic growth has peaked, says World Bank
    https://www.ft.com/content/4b9e6190-f55e-11e7-88f7-5465a6ce1a00

    Hal percent GDP Per Capita is a boom now? Actually its historically a depression. Meaning “Depressed Economic Growth”….

  2. MASTERMIND on Thu, 1st Feb 2018 4:08 pm 

    Clogg

    Who cares about Romania’s GDP its so small its just a rounding error on the global level! You are grasping at straws! Learn to use some critical thinking and question what you read from the news! You are not very bright and are not very good with numbers! You think a .05 percent increase in Immigration to Europe is flooding the country with immigrants! LOL

  3. Cloggie on Thu, 1st Feb 2018 4:24 pm 

    World Governments Gross Debt to GDP (330%)

    https://www.irishtimes.com/business/economy/state-s-debt-ratio-falling-at-fastest-rate-in-the-euro-zone-1.2584911

    “State’s debt ratio falling at fastest rate in the euro zone”

    But I agree with you that America lives above its means.

  4. Cloggie on Thu, 1st Feb 2018 4:25 pm 

    Who cares about Romania’s GDP

    You do, otherwise you wouldn’t respond.

  5. MASTERMIND on Thu, 1st Feb 2018 4:30 pm 

    Clogg

    Who cares about Ireland debt? You dumbass! Check the Citigroup chart on the link I posted showing the entire euro-zone! I can tell you never went to college and studied business or economics! I have a masters degree in Economics!

  6. Davy on Thu, 1st Feb 2018 4:30 pm 

    Neder, sure the economy is a limiting factor. Just becuase you think economic growth is unlimited does not mean it is. Blind faith in mainstream media just shows how gullible you are. You are afraid to dig deeper than the cheerleading. Underneath the basis of the global economy is not bright. My point of my original comment is oil supply is contingent on economics also. It is not only reserves:

  7. Cloggie on Thu, 1st Feb 2018 4:42 pm 

    “I can tell you never went to college and studied business or economics! I have a masters degree in Economics!”

    Last time I checked you had a degree in chemistry.

    I think that in earnest you are a kindergarten dropout. There is no such thing as a academic openly fantasizing on public boards about raping Taylor Swift. You’re not a serious person. You’re an anarchist, yearning for lawlessness, so you can unleash your sadism onto the world. You need your peak oil vision like a junk needs his shot or a fly needs fresh dung.

  8. Cloggie on Thu, 1st Feb 2018 4:47 pm 

    “Just becuase you think economic growth is unlimited”

    I never said that. But the vision of peak oil supply as an industrial civilization killer…

    https://goo.gl/images/NwxrW9

    …has lost all credibility.

    Worry about,
    immigration, decay US empire, climate, civil war… but not about energy. That die has cast and the announced drama has been called off.

  9. MASTERMIND on Thu, 1st Feb 2018 4:49 pm 

    Clogg

    Don’t consider it Rape consider it strangers with benefits! And if Taylor won’t swallow my cum I will put it on a spoon for her! LOL

  10. MASTERMIND on Thu, 1st Feb 2018 4:51 pm 

    Clogg

    As M. King Hubbert (1956) shows, peak oil is about discovering less oil, and eventually producing less oil due to lack of discovery.
    https://imgur.com/a/6dEDt

    IEA Chief warns of world oil shortages by 2020 as discoveries fall to record lows
    https://www.wsj.com/articles/iea-says-global-oil-discoveries-at-record-low-in-2016-1493244000

    Saudi Aramco CEO sees oil shortage coming as investments, oil discoveries drop
    https://www.reuters.com/article/us-aramco-oil/aramco-ceo-sees-oil-supply-shortage-as-investments-discoveries-drop-idUSKBN19V0KR

    Peak Oil Vindicated by the IEA and Saudi Arabia

  11. MASTERMIND on Thu, 1st Feb 2018 4:52 pm 

    Clogg

    Existing oil reserves are scheduled to begin a catastrophic crash within 1 to 3 years. When it hits the economic and social damage will be catastrophic. The end of Western Civilization, from China to Europe, to the US, will not occur when oil runs out. The economic and social chaos will occur when supplies are merely reduced sufficiently….

    https://imgur.com/a/6dEDt
    http://www.nature.com/nature/journal/v481/n7382/full/481433a.html
    http://www.sciencedirect.com/science/article/pii/S0301421509001281
    http://www.sciencedirect.com/science/article/pii/S030142151300342X
    http://www.sciencedirect.com/science/article/pii/S0016236114010254
    http://www.geo.cornell.edu/eas/energy/the_challenges/peak_oil.html
    http://www.energybulletin.net/sites/default/files/Peak%20Oil_Study%20EN.pdf
    http://www.scribd.com/document/367688629/HSBC-Peak-Oil-Report-2017
    https://www.wsj.com/articles/iea-says-global-oil-discoveries-at-record-low-in-2016-1493244000
    https://www.reuters.com/article/us-aramco-oil/aramco-ceo-sees-oil-supply-shortage-as-investments-discoveries-drop-idUSKBN19V0KR

  12. MASTERMIND on Thu, 1st Feb 2018 4:55 pm 

    Clogg peak oil wasn’t debunked you are just a coward who can’t handle reality! You wouldn’t be on this board if you really believe that!

    The End of Peak Oil? Why this topic is still relevant despite recent denials (Chapman, 2014)
    http://www.sciencedirect.com/science/article/pii/S030142151300342X

    Projection of World Fossil Fuels by Country (Mohr, 2015)
    http://www.sciencedirect.com/science/article/pii/S0016236114010254

  13. Davy on Thu, 1st Feb 2018 4:56 pm 

    Neder, the subject was oil and how much was available and I said the economy is a limiting factor. Stay on topic and quit drifting off into your fantasy world.

  14. MASTERMIND on Thu, 1st Feb 2018 4:57 pm 

    Chevron CEO warns US shale oil alone cannot meet the world’s growing demand for crude
    https://www.cnbc.com/2017/05/01/us-shale-cannot-meet-the-worlds-growing-oil-demand-chevron-ceo-warns.html

    World Oil Shortages To Lead To Oil Price Spike By 2020s, warns Goldman Sachs
    http://oilprice.com/Latest-Energy-News/World-News/Supply-Crunch-To-Lead-To-Oil-Price-Spike-By-2020s-Expert-Says.html

    2020s To Be A Decade of Disorder For Oil
    https://oilprice.com/Energy/Energy-General/2020s-To-Be-A-Decade-of-Disorder-For-Oil.html

    Citigroup CEO Ed Morse warns of oil shortages coming as soon as 2018
    https://www.bloomberg.com/news/articles/2017-09-25/citi-says-get-ready-for-an-oil-squeeze-than-an-opec-supply-surge

    Halliburton CEO says oil will spike due to oil shortages by 2020 after Industry Cuts
    https://www.bloomberg.com/news/articles/2017-07-12/halliburton-sees-2020-oil-spike-after-industry-cuts-2-trillion

    Saudi Arabia’s Energy Minister Warns of World Oil Shortages Ahead
    https://www.wsj.com/articles/saudi-minister-sees-end-of-oil-price-slump-1476870790

  15. JuanP on Thu, 1st Feb 2018 5:24 pm 

    MM “I have a masters degree in Economics!”. Just when we thought things couldn’t get any worse here at PO MM appeared here with his delusions, hallucinations, and multiple personality disorder and proved us wrong. The poor guy’s comments are absolutely ridiculous! When I witness the existence of people like him I wonder how low the USA and the world can fall. There is no limit to the destruction such foolishness may spread. And I have links to multiple scientific articles that prove it! LOL!

  16. Boat on Thu, 1st Feb 2018 5:28 pm 

    Clog,

    Or a German needs to gas. What is up with VW running tests on humans and monkeys to study emissions and their effects. This is why US troops are needed in Germany, to protect the world.

  17. MASTERMIND on Thu, 1st Feb 2018 5:41 pm 

    JuanP

    Leave the science to the experts! If I need my law mowed I will call a low IQ Hispanic person like you! Because I know you will do the work for half the price because your people are so dumb!

  18. Boat on Thu, 1st Feb 2018 5:50 pm 

    Germans gassing Germans that are not Jews for the benefit of car companies is a new twist. Are Germans caught up in subliminal cult type pressures?
    Maybe it’s an authority complex. I am a german in charge so I feel the need to gas others.

  19. Boat on Thu, 1st Feb 2018 5:58 pm 

    I read the German gassing happened at a hospital where an ethics committee had to give an ok for the gassing to happen. That ladies and Gents is a peek into German culture. Hey, we want to gas…….Sure, go ahead, what could go wrong.

  20. MASTERMIND on Thu, 1st Feb 2018 5:59 pm 

    Ill bet anything clog pulls a Michael Ruppert when the peak oil supply shortages hit! He will deny to the grave, literally! Oh well not like any woman wanted to reproduce with a Nazi paranoid conspiry loon! LOL

  21. MASTERMIND on Thu, 1st Feb 2018 6:00 pm 

    And when clogg blows his brains out at least his mom will have her basement back again! After some serious deep cleaning!

  22. Mad Kat on Thu, 1st Feb 2018 6:09 pm 

    Cloggie, MM is not even sure if he ever went to college. Yes, he claimed to have a PhD in chemistry. Now it appears his degree is a Masters in Economics. He cannot deal with intelligent people who have memories and use logic and experience to make decisions.

    Must be difficult to live with a split/multiple personality. He never knows who he is. lol

  23. MASTERMIND on Thu, 1st Feb 2018 6:14 pm 

    Mad Kat

    I have a degree in both! My graduate degree is in chemistry! I told you this before but you uneducated people don’t realize you can have two different degrees if you keep going to college! You are just jealous of my education because you dropped out like a loser!

  24. Davy on Thu, 1st Feb 2018 6:19 pm 

    Well, silly billy, we know you didn’t go to college. You told us this. You are a drop out.

  25. Mad Kat on Thu, 1st Feb 2018 6:32 pm 

    The real important question is: Are you prepared to barter for your needs?

    “Later when I remembered that period, I realized that even right at the beginning of SHTF there were people who did not want to take money for goods. They asked for valuables like gold, jewelry, or weapon for goods that they had.

    Some of them were smart enough to realize that money was gonna become worthless really soon, and even gold and jewelry were only good in the first period, and then only if you had a connection to outside world to exchange it for something useful.”

    https://www.theorganicprepper.com/selco-barter-trade-shtf-economy/

    “In the long run, skills were more valuable, simply because you can not “spend“ your skills. … Skills were also more safe to trade simply because by attacking and killing you, the attacker cannot take away your skills from you.”

    This is a very excellent article full of info you will need to survive when the SHTF. I would recommend printing it out (Internet/electric may be gone when the SHTF) and learning from the experience of someone who has live the situation. I will re-post this often.

  26. MASTERMIND on Thu, 1st Feb 2018 6:34 pm 

    Madkat

    Organic prepper? LOL You have no standards for what you post! Anything with a url will do!

  27. JuanP on Thu, 1st Feb 2018 7:29 pm 

    I wonder if MM is truly so insane that he believes that posting the same links here hundreds of times has any effect on anyone or anything? I read his links and to me they prove beyond any doubt that he is clinically insane.

  28. JuanP on Thu, 1st Feb 2018 7:36 pm 

    Mak, I read a whole bunch of articles by Selco on his experience in Bosnia. That guy is the real thing; everything he says makes a lot of sense to me. I am not surprised that the board’s retard puts him down. MM is a stupid coward.

  29. JuanP on Thu, 1st Feb 2018 7:45 pm 

    While I am not a SHTF type of guy and I’ve often wondered if Selco was a fraud his survival tips are good.

  30. JuanP on Thu, 1st Feb 2018 7:52 pm 

    MM, Even if you had ten degrees you would still remain a functionally illiterate, ignorant, delusional retard. YOU CAN’T FIX STUPID! Since you are so smart and highly educated please try writing one comment without making spelling and grammar mistakes. I wonder whether you came out of your mother’s front or back hole because you truly are one ignorant piece of shit. LOL!

  31. JuanP on Thu, 1st Feb 2018 8:01 pm 

    MM, I think I am going to have some fun at your expense in the coming days. And there is nothing you can write about me that would matter to me so feel free to hit back. Give it your best shot, your impotence is funny to me. If you think someone like you can get under my skin you really don’t know shit about life. I am sorry for the reasonable people who will have to put up with this, but I don’t think it really matters because this website’s board is already fucked anyway.

  32. MASTERMIND on Thu, 1st Feb 2018 8:13 pm 

    JuanP

    When you post some scholarly peer reviewed studies like I have I will take you seriously…I dont mean this to be mean but Hispanic people have some of the lowest IQ’S are earth! All Hispanic countries! So you are not worth my time! But have a good day anyways!

  33. antaris on Thu, 1st Feb 2018 9:05 pm 

    If you are so fucking smart why are you here ?

  34. Mad Kat on Thu, 1st Feb 2018 9:37 pm 

    Juan, As I no longer read any of MM, Davy. or the Mob’s bullshit, so I will not be able to enjoy their pathetic attempts to make you, or anyone, upset. They are so immature and unintelligent that they cannot seem to understand that they cannot affect anyone over the internet. Certainly not anyone older, and more experienced, than they.

    I decided that they are not worth reading or a reply. I no longer waste my time on loser, delusional people as they. Perhaps, if all of us ignore them, they will fade away.

  35. MASTERMIND on Thu, 1st Feb 2018 9:49 pm 

    Mad kat

    I would run and hide too if I was you. Since I have easily proven beyond any doubt our collapse will be global. And you have yet to show any evidence or reason to refute that! And your prepping fantasies are absurd because you are outnumbered by a million to one! And all you post is fake news because you are to dumb and have no standards!

    Kick rocks Madkat!

  36. MASTERMIND on Thu, 1st Feb 2018 10:02 pm 

    You are a coward Mad Kat and a wimp! So much for all your experience! LOL Experience is a lousy teacher! And your IQ has declined for 60 years!

  37. GregT on Thu, 1st Feb 2018 10:06 pm 

    “Mak, I read a whole bunch of articles by Selco on his experience in Bosnia.”

    As did I, years ago. Another guy that immediately comes to mind is FerFal and all of his writings in regards to the economic collapse in Argentina. Both of them helped us to come up with our long term game plan.

    There were others as well, but they aren’t immediately coming to mind ATM.

    http://ferfal.blogspot.ca

  38. MASTERMIND on Thu, 1st Feb 2018 10:28 pm 

    Greg

    That is not a global economic collapse like we are going to have..No times in history can compare to what is going to happen to us..this is the first global collapse in human history!

  39. JuanP on Thu, 1st Feb 2018 10:39 pm 

    Mm, Any retard with a single digit IQ can post links to whatever, that does not prove that you have any intelligence. The fact that you can’t understand the articles you link to, which you have been proving for months, is, on the other hand, irrefutable proof of your lack of intelligence. If you think posting links proves you are intelligent then you are even more stupid and delusional than I thought you were. LOL!

    By the way, you made eight mistakes in that last one paragraph post you addressed to me. I knew how to write better in English in first grade and English is not my native language, just one of the five languages I am fluent on. Do you really expect people to consider you smart and educated when you are nothing but a functionally illiterate fool and you prove that with every comment you post? Do you realize how ignorant and stupid you are proving to be! You are a little pathetic boy! Grow up and take some basic literacy classes! LOL!

    You are living proof that there is an inverse relation between a person’s intelligence and how intelligent they think they are. Like I said earlier, YOU CAN’T FIX STUPID! LOL!

  40. JuanP on Thu, 1st Feb 2018 10:44 pm 

    Oops! I meant to say I am fluent in, but I made a typo. Do you know what a typo is? Did they teach you that in college? LOL! I should check my comments before posting them, not after. LOL! Thanks, I am enjoying our little exchange; I look forward to hearing from you. Can you control yourself and keep from posting? I doubt it! LOL!

  41. GregT on Thu, 1st Feb 2018 10:54 pm 

    Marmico,

    I see you still haven’t managed to claw your way out of mommy’s basement. If I was your Dad, I’d be giving you a well deserved ass kicking, you useless sack of shit.

  42. MASTERMIND on Thu, 1st Feb 2018 10:56 pm 

    Dear Reader,

    Here are five peer reviewed scientific studies authored by top experts that prove beyond any reasonable doubt that global civilization will collapse within the next decade.

    http://www.sciencedirect.com/science/article/pii/S0921800914000615
    http://www.sciencedirect.com/science/article/pii/S0959652617304225?via%3Dihub
    https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3574335/
    http://sustainable.unimelb.edu.au/sites/default/files/docs/MSSI-ResearchPaper-4_Turner_2014.pdf
    http://www.feasta.org/wp-content/uploads/2012/06/Trade-Off1.pdf

    Simple really….when the World Economy Collapses everything shuts down…the end… We’re talking about grids down all over the world and 7.5B people dropping like f*** flies in short order. The collapse will be absolutely horrible..There is no collapse or horror movie ever produced that has even come close to imagining what the collapse of BAU might look like. I’m talking about every corporation and every social program going bankrupt at once. I’m talking about people eating people. I’m talking about the Worst Catastrophe to ever happen in the history of mankind. Nothing has ever, or will ever come close….

  43. GregT on Thu, 1st Feb 2018 11:01 pm 

    “I’m talking about every corporation and every social program going bankrupt at once. I’m talking about people eating people. I’m talking about the Worst Catastrophe to ever happen in the history of mankind.”

    You are a complete moron marmico, and you are talking shit.

  44. JuanP on Thu, 1st Feb 2018 11:16 pm 

    Another copy and paste ridiculous posting by Micromind. I am too tired to even count the mistakes he made on this one, but a quick glance is enough for anyone to see that he must have never studied basic English grammar in his life. He is a typical product of the American education system: a completely ignorant, functionally illiterate fool.

  45. MASTERMIND on Thu, 1st Feb 2018 11:29 pm 

    JuanP and Greg are triggered!
    https://imgur.com/a/v2ovr

  46. MASTERMIND on Thu, 1st Feb 2018 11:32 pm 

    MM is le based man and he triggers science deniers!

  47. Cloggie on Thu, 1st Feb 2018 11:58 pm 

    Or a German needs to gas. What is up with VW running tests on humans and monkeys to study emissions and their effects. This is why US troops are needed in Germany, to protect the world.

    The world needs American troops like the plague. There were no animals or humans gassed to death by Volkswagen. Medical experiments are carried out on animals and humans around the world, including by the American pharma industry.

    And regarding the alleged “gassings” during WW2: can you give me proof and a name of a single person who was gassed in one of the concentration camps? Of course you can’t. There is not a single proof that these alleged killings took place. Most Germans had camera’s like this little Leica:

    https://web2.ph.utexas.edu/~yue/misc/Leica2_Elmar.jpg

    Surely there must have been at least one German officer plagued by guilt who should have smuggled his camera into these gas chambers and make a picture of a pile of gassed people. None of them exist. All the forensic evidence points at the non-existence of this event, like repeated scraping of material from the walls of these so-called gaschambers to look for cyanide. Nothing was founds. It is just another Alllied lie, invented in Nuremberg, just to create the justification for the horrendous Anglo atrocities against the German population and to justify the rape of Europe. But you are on the way out by becoming a third world country. You are just another USSR about to implode. Bye-bye!

    We needs American troops to go home, worlwide.

  48. Cloggie on Fri, 2nd Feb 2018 12:08 am 

    Massive growth rates e-vehicles:

    http://www.spiegel.de/auto/aktuell/elektroautos-absatz-in-europa-steigt-enorm-a-1190865.html

    Germany 80%

    https://www.nu.nl/auto/5113421/flink-meer-elektrische-autos-verkocht-in-nederland-.html

    Netherlands 132% (50% last year)

  49. MASTERMIND on Fri, 2nd Feb 2018 12:17 am 

    Clogg

    You cant take an EV out of the city..So they are pretty much worthless to most people! And trucks, planes, and ships will never be electric..They are a fad for rich yuppies! And the majority of people who live in cities park on the street and dont even have garages to charge them.

  50. Anonymouse1 on Fri, 2nd Feb 2018 12:21 am 

    Massive growth rate in cloggen-zimmers e-bullshit

    Topics derailed 80%

    Assorted Ass-pulls +132% (50% last year)

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