Gazprom to raise Arctic reserves by 1.5 bln tns of fuel equivalent ‘23

MOSCOW, Oct 25 (PRIME) -- Russian gas giant Gazprom plans to boost gas reserves on the Arctic shelf by 1.5 billion tonnes of fuel equivalent by 2023, Gazprom Geologorazvedka CEO Vsevolod Cherepanov said in an article published in Gazprom’s corporate magazine on Friday.

“Gazprom plans to drill a total of around 10 deep offshore exploratory and appraisal wells by 2023, two per year for one summer drilling season. The expected long-term increase in natural gas reserves amounts to over 1.5 billion tonnes of fuel equivalent,” Cherepanov said.

Gazprom owns 11 license blocks for geological exploration and hydrocarbon production in the Kara Sea and five in the Barents Sea, he added. Under terms of the licenses, main geological exploration works on the sites should be completed by 2025.

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