Total and Rosneft partner in the Russian Black Sea
Posted: 7 October 2003
Total and Rosneft signed a joint venture agreement to explore
and develop the Tuapse Depression in the Black Sea.
This 12,000-square-kilometer area is located a few kilometers offshore
Russia, and water depths range from 500 to 2,000 meters. Rosneft
was awarded the exploration license for the area in August 2003.
In line with the agreements signed by Total and Rosneft, the license
is to be transferred to a joint venture equally owned by the two
companies.
Phase 1 will comprise a 2D seismic survey, a 3D seismic survey
and a well.
Total's acquisition of an interest in the Tuapse Depression is
in line with the company's strategy of expanding deep offshore holdings
worldwide and strengthening its presence in projects in Russia.
The Group recently brought on stream Phase 2 of the Kharyaga development,
which will lift the Russian field's oil output to 30,000 barrels
per day.
Posted by Richard Price,
Editor Pipeline Magazine
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to info@pipelinedubai.com |
