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THE Arctic Oil Thread (merged)

For discussions of events and conditions not necessarily related to Peak Oil.

Re: Canada threatens Russia with cold war over Arctic Oil

Unread postby Maddog78 » Thu 30 Jul 2009, 11:23:40

Nickel wrote:
Maddog78 wrote:I personally have worked in the Beaufort Sea onboard the Kulluk and Molikpaq for Gulf Oil and the Explorer II Drill Ship for Dome Petroleum in the mid 80's.

http://www.oilrig-photos.com/picture/number129.asp

http://www.frontier-drill.com/Fleet/Kul ... fault.aspx


Which one are you? The guy standing on the deck hosing away the seagull poop or the guy waving with the "If I wanna stand here and listen to an a$$hole, I'll fart" hat? :)



Both those guys were making $500/day in the mid 80's.
I wonder what the average wage in Canada was at that time? :razz:
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Re: THE Arctic Oil Thread (merged)

Unread postby Tanada » Fri 19 Sep 2014, 08:25:54

What happened to all those big plans Russia had for drilling off Siberia's coast? Anyone know good search terms for a none Russian speaker to use for rooting around the internet?
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Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
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Re: THE Arctic Oil Thread (merged)

Unread postby radon1 » Sat 27 Sep 2014, 15:02:51

http://www.zerohedge.com/news/2014-09-2 ... ulf-mexico

In a dramatic stroke of luck for the Kremlin, this morning there is hardly a person in the world who is happier than Russian president Vladimir Putin because overnight state-run run OAO Rosneft announced it has discovered what may be a treasure trove of black oil, one which could boost Russia's coffers by hundreds of billions if not more, when a vast pool of crude was discovered in the Kara Sea region of the Arctic Ocean, showing the region has the potential to become one of the world’s most important crude-producing areas, arguably bigger than the Gulf Of Mexico.
...
For a sense of how big the spoils are we go to another piece by Bloomberg, which tells us that "Universitetskaya, the geological structure being drilled, is the size of the city of Moscow and large enough to contain more than 9 billion barrels, a trove worth more than $900 billion at today’s prices."


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Re: THE Arctic Oil Thread (merged)

Unread postby vtsnowedin » Sat 27 Sep 2014, 19:01:06

This news today.
http://www.bloomberg.com/news/2014-09-2 ... s-oil.html
Russia’s state-run OAO Rosneft (ROSN) said a well drilled in the Kara Sea region of the Arctic Ocean with Exxon Mobil Corp. (XOM) struck oil, showing the region has the potential to become one of the world’s most important crude-producing areas.

The announcement was made by Igor Sechin, Rosneft’s chief executive officer, who spent two days sailing on a Russian research ship to the drilling rig where the find was unveiled today. The well found about 1 billion barrels of oil and similar geology nearby means the surrounding area may hold more than the U.S. part of the Gulf or Mexico, he said.

“It exceeded our expectations,” Sechin said in an interview. This discovery is of “exceptional significance in showing the presence of hydrocarbons in the Arctic.”

The discovery sharpens the dispute between Russia and the U.S. over President Vladimir Putin’s actions in Ukraine. The well was drilled before the Oct. 10 deadline Exxon was granted by the U.S. government under sanctions barring American companies from working in Russia’s Arctic offshore. Rosneft and Exxon won’t be able to do more drilling, putting the exploration and development of the area on hold despite the find announced today.
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Re: THE Arctic Oil Thread (merged)

Unread postby ROCKMAN » Sun 28 Sep 2014, 10:20:33

"Rosneft and Exxon won’t be able to do more drilling, putting the exploration and development of the area on hold despite the find announced today." Not accurate. XOM can't...Rosneft can. They might need help from China or someone else but they aren't restricted. And depending on the details of the concession XOM might lose all rights to the discovery if they don't continue development as per the contract. Even the US govt takes offshore leases in the GOM away from companies that don't comply with the mandated time line. But XOM probably has a year before that risk comes to play. Besides from what I gather drilling season in that region may have just ended and another well couldn't be drilled until next summer. And development and production of the discovery (if it is actually commercial)...at least 4 to 5 years down the road. And if the sanctions last for years? A certainty that XOM would forfeit their rights and I can easily see China taking their place. If the discovery is commercial it will be developed: the oil importers of the world will demand it. Even the US consumers eventually IMHO.
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Russia Struggling To Expand Arctic Oil Production

Unread postby AdamB » Thu 01 Feb 2018, 15:07:17


Oil production from Russia’s Arctic region increased in 2017 as new onshore developments and the only offshore producing platform ramped up production. But challenges in Russia’s arctic remain. Last year, production from onshore fields in Yamal-Nenets autonomous region in northern Russia contributed the most to the rise in oil production in the Arctic. Output from the only producing offshore oil field — Prirazlomnoye — also increased in 2017. And Russia has ambitions to continue to develop its Arctic oil resources. Russia’s ambitions, however, are not without challenges; it must contend with several factors that, for now, are preventing it from fully developing its offshore Arctic oil potential. For starters, U.S. sanctions prohibit the exports of goods, services, or technology that Russia needs to support exploration or production in Russia’s deepwater, Arctic offshore, or shale projects — all which have the potential to


Russia Struggling To Expand Arctic Oil Production
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