Offshore Projects of the Company

Rosneft sees hydrocarbon resource development on the continental shelf as a key strategic direction for its growth.

Hydrocarbon resources of the continental shelf of the Russian Federation, primarily the Arctic, are considered by specialists as a main reserve for the development of the oil and gas industry in the long term. The Russian continental shelf is the world’s largest in terms of area covered – over 6 mln sq. km, and Rosneft holds the biggest pool of licenses in the continental shelf. For the Company, development of the oil and gas potential of the continental shelf is an important state task in terms of supporting the modernization of industry and organizing the production of high-tech equipment, updating the coastal and transport infrastructure, and developing human resources. The Company is carrying out offshore projects in the water area of the Arctic, Far Eastern and Southern seas of Russia, taking into account the current price situation on the world oil and gas market.

Rosneft’s portfolio contains 55 licenses on the Russian continental shelf, representing an aggregate resource potential of 39.5 bln toe as at 31 December 2017. Out of them, 19 license areas are situated in the waters of the Western Arctic (the Pechora, Barents and Kara seas), nine licenses are in the Eastern Arctic (the Laptev, Chukchi and East Siberian seas), 20 – offshore the Far East (the Sea of Okhotsk and the Sea of Japan), and seven license areas lie in the waters of southern seas (the Black, Caspian and Azov seas). Of the 55 license areas, 26 partnerships were established in 2017 with industry majors such as ExxonMobil, ENI, Statoil, LUKOIL, Sodeco, ONGC, and Sinopec.