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Rosneft and Lukoil begin construction of first North Caspian offshore well

20th June 2014

Rosneft and Lukoil have begun the construction of the first prospecting and appraisal well at the Ribachya structure as part of geologic exploration of the North Caspian licensed site, situated in a Russian sector of North Caspian water area

Rosneft and Lukoil begin construction of first North Caspian offshore well
More than 10 good structures were detected within the limits of the North Caspian site

The project is operated by the Caspian Oil Company. The planned drilling depth is 1,650 metres. The aim of well drilling is to explore the geologic structure and to detect oil and gas deposits, as well as to evaluate their commercial significance.

The participants of the project have payed special attention to strict requirements of ecological security of works at Caspian shelf and to security of sea wells drilling and exploitation adherence.

In 2007 Rosneft bought a share in Caspian Oil Company, which holds licences for performing geological and exploration works at the North Caspian licensed site in the Russian sector of the Caspian Sea. The project operator is Caspian Oil Company, established by Rosneft (49.892  per cent), Lukoil (49.892 per cent) and Gazprom (0.216 per cent).

More than 10 good structures were detected within the limits of the North Caspian site. The prospective resources are estimated 1.9 bn barrels and 55 billion cubic metres of gas.

The well construction at Ribachya structure is performed by Astra rig.

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