Nine of these oil and gas blocks are in the Barents Sea and one is in the Black Sea
Russian state oil major Rosneft has offered ONGC Videsh Ltd (OVL), the overseas arm of state-run Oil & Natural Gas Corporation (ONGC), a stake in nine offshore oil and gas blocks in the Barents Sea and one in the Black Sea. Minister of State for Petroleum and Natural Gas Panabaaka Lakshmi told the Lok Sabha that ONGC Videsh Ltd is studying data provided by Rosneft before deciding on its participation in the blocks.
‘Rosneft, the Russian exploration and production company, has offered nine exploration offshore blocks in the Barents Sea and one in the Black Sea to OVL,’ she said, in a written reply to a question. ‘At present, OVL is studying the preliminary data provided by Rosneft for identifying the preferred blocks for participation with Rosneft,’ she added.
ONGC Videsh Ltd is keen to get a foothold in the Arctic projects and expand in Siberia and Far East Russia. Petroleum and Natural Gas Minister M Veerapa Moily had in December stated that Rosneft had offered OVL a stake in the Magadan-2 and Magadan-3 exploration blocks in the northern part of the Sea of Okhotsk in eastern Russia.
The blocks Magadan-2 and Magadan-3 are situated in the Okhotsk sea in the eastern part of Russia.
The Okhotsk sea is bounded by mainland Russia in the west and north, Kamchatka-Kuril peninsula towards the east and north-east, and Hokkaido (Japan) to the south.
Rosneft had a couple of years back got a licence to explore in five areas in the Sea of Okhotsk — Magadan-1, 2 and 3, Lisyansky and Kashevarovsky. The area is estimated to hold 2.8 billion tonnes of oil and oil equivalent natural gas. Sources said that OVL had in May 2012 written to Rosneft, expressing interest in taking a stake in oil and gas blocks in the Russia’s Arctic region which have recently been given out to US major ExxonMobil, Italian giant ENI and Norway’s Statoil for exploration.
The Russian firm also recently roped in Statoil for four new joint ventures, including exploring the Magadan 1, Lisyansky and Kashevarovsky blocks that have 1.4 billion tonnes recoverable reserves.
ONGC Videsh ltd has a 20 per cent stake in the Sakhalin-1 oil and gas field in the Russian Pacific Ocean and bought Imperial Energy, which has fields in Siberia, in January 2009 for $2.1 billion.
Russian state oil major Rosneft has offered ONGC Videsh Ltd (OVL), the overseas arm of state-run Oil & Natural Gas Corporation (ONGC), a stake in nine offshore oil and gas blocks in the Barents Sea and one in the Black Sea. Minister of State for Petroleum and Natural Gas Panabaaka Lakshmi told the Lok Sabha that ONGC Videsh Ltd is studying data provided by Rosneft before deciding on its participation in the blocks.
‘Rosneft, the Russian exploration and production company, has offered nine exploration offshore blocks in the Barents Sea and one in the Black Sea to OVL,’ she said, in a written reply to a question. ‘At present, OVL is studying the preliminary data provided by Rosneft for identifying the preferred blocks for participation with Rosneft,’ she added.
ONGC Videsh Ltd is keen to get a foothold in the Arctic projects and expand in Siberia and Far East Russia. Petroleum and Natural Gas Minister M Veerapa Moily had in December stated that Rosneft had offered OVL a stake in the Magadan-2 and Magadan-3 exploration blocks in the northern part of the Sea of Okhotsk in eastern Russia.
The blocks Magadan-2 and Magadan-3 are situated in the Okhotsk sea in the eastern part of Russia.
The Okhotsk sea is bounded by mainland Russia in the west and north, Kamchatka-Kuril peninsula towards the east and north-east, and Hokkaido (Japan) to the south.
Rosneft had a couple of years back got a licence to explore in five areas in the Sea of Okhotsk — Magadan-1, 2 and 3, Lisyansky and Kashevarovsky. The area is estimated to hold 2.8 billion tonnes of oil and oil equivalent natural gas. Sources said that OVL had in May 2012 written to Rosneft, expressing interest in taking a stake in oil and gas blocks in the Russia’s Arctic region which have recently been given out to US major ExxonMobil, Italian giant ENI and Norway’s Statoil for exploration.
The Russian firm also recently roped in Statoil for four new joint ventures, including exploring the Magadan 1, Lisyansky and Kashevarovsky blocks that have 1.4 billion tonnes recoverable reserves.
ONGC Videsh ltd has a 20 per cent stake in the Sakhalin-1 oil and gas field in the Russian Pacific Ocean and bought Imperial Energy, which has fields in Siberia, in January 2009 for $2.1 billion.
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