Russia’s Rosneft announces $19 million seismic exploration tender

Russian state-owned oil major Rosneft has announced a $19 million tender for 3D seismic exploration works at the Magadan-3 site on the country’s Far Eastern shelf, the Magadan Region government said in a statement referring to region’s head Vladimir Pechyony.

Russian state-owned oil major Rosneft has announced a $19 million tender for 3D seismic exploration works at the Magadan-3 site on the country’s Far Eastern shelf, the Magadan Region government said in a statement referring to region’s head Vladimir Pechyony.

“The tender’s size is over $19 million. Seismic exploration will be carried out within a 1,200 square meter area. According to tender documents, the works must be done by July 2015,” the government quoted Pechyony as saying.

Bids will be collected until December 24; the tender’s results will be announced on March 4, 2015.

In May 2013, Rosneft signed a cooperation agreement with Japan’s Inpex for the development of the Magadan-2 and Magadan-3 sites. The joint forecasted reserves of three Magadan sites stand at 1.414 billion tons of oil and condensate and 1.758 trillion cubic meters of gas.

First published by TASS.

All rights reserved by Rossiyskaya Gazeta.

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