Equinor, Rosneft sanction Arctic field development

Equinor and Rosneft will jointly develop the first stage of North Komsomolskoye field.

Total recoverable volumes for Stage 1 are estimated at 250 million bbl of oil and 23 billion cubic metres of natural gas.

North Komsomolskoye was a part of a strategic cooperation agreement signed by Rosneft and Equinor in May 2012.

Since 2018, the partnership has carried out test production in the field to better understand the reservoir properties and lay the ground for the full field development decision.

North Komsomolskoye is a conventional onshore oil and gas field in Western Siberia

Equinor holds 33.33% and Rosneft 66.67% in the joint venture company, SevKomNeftegaz, which owns the North Komsomolskoye licence.

Source: Oil & Gas Journal