Russian energy giant Rosneft reported the discovery of a large oil deposit of about 606 million barrels, in the Medynsko-Varandeyskoye license in the Pechora Sea.
Rosneft described the findings as proving “significant oil potential of the Timan-Pechora province on the shelf.”
According to Rosneft, Vostok will produce up to 115 million tons of oil per year by 2033. That volume of oil is said to be equivalent to 20 percent of Russia’s total oil production for 2021.
Pechora Sea is a sea at the northwest of Russia, the southeastern part of the Barents Sea. The Pechora Sea is quite shallow with average depth of 6 meters and The 210 meters at its deepest point.
(Source: Rosnef/MenaFN – Image: NASA)