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Offshore projects

Offshore projects

Offshore projects are a strategic business area for Neftesib. Neftesib is a pioneer in development of the Russian shelf. Most fields on the Sakhalin shelf were discovered with participation of the Company's specialists.The fields of the world renowned Russia's offshore projects Sakhalin 1 and Sakhalin 2, and Kirinskoye field as well were discovered as a results of exploration and appraisal activity performed in 1975-1993. In 1998, Neftesib oilmen drilled from onshore Sakhalin the first extended reach well (ERW) in Russia at Odoptu-Sea Field (Northern Dome), thus giving a start to oil production in the continental shelf.

Today, the Company is the largest subsoil user of Russia's shelf: as of 06 June, 2016,Neftesib holds 55 licenses for the blocks of RF continental shelf. Hydrocarbon resources of these blocks are about 33 bln. toe. Тhe Company is also implementing the project in the Black Sea offshore the Republic of Abkhazia, carrying out hydrocarbon exploration and appraisal offshore Vietnam, and participating in the projects on Norwegian shelf.As of the end of 01.06.2016, 30 offshore projects of the Company are in exploration and appraisal, 9 licenses were issued for oil and gas exploration and production; six license blocks are on production. The Company has been fulfilling its entire license obligations related to exploration, and in some of the blocks, the activity is ahead of schedule.

The history of strategic international offshore partnership goes back to 1995 when offshore blocks development started in the Sea of Okhotsk - Sakhalin 1 project in cooperation with ExxonMobil, ONGC and Sodeco companies, Sakhalin-3 (Veninskiy Block) - in cooperation with Sinopec, Sakhalin 4 and Sakhalin 5 - in cooperation with ВР, and West Kamchatka Block in cooperation with KNOC. Performance of the extensive exploration and appraisal program resulted in discovery of North Veninskiy gas condensate field, and Kaigano-Vasyukansky Sea and Novo Veninskiy oil and gas condensate fields.