Rosneft starts drilling in the Caspian with Lukoil

Rosneft has reported that it started drilling in the Caspian Sea together with Lukoil. As part of the geological exploration in the North-Caspian licensed area, the companies are going to drill an exploration well on the Rybachiya structure. The license belongs to the Caspian Oil Company, which is owned by Rosneft (49.892%), Lukoil (49.892%) and Gazprom (0.216%).

The Caspian shelf is a region with proven oil and gas bearing potential, and the development of the North Caspian area will help the companies participating in the project to increase their production. More than 10 prospective structures were discovered within the North Caspian area. Its resources are estimated at 260 million tons of oil and 55 billion cubic meters of gas, but due to the geological exploration the hydrocarbon reserves could exceed the expectations.