Russian minnow embarks on Arctic megaproject
A Rosneft-linked independent is developing one of Russia’s biggest ever discoveries
A little-known private company has kicked off development at an oil project in Russia's far north that could eventually pump out 1mn bl/d. The Paiyakhskoye field on the Taymyr Peninsula was identified during the Soviet era but was dismissed as being too remote and challenging to exploit. Following a recent appraisal, state authorities place its C1+C2 reserves at 1.2bn tonnes (8.8 bn bl), putting it on a par with Russia's biggest discoveries. Managing this ambitious enterprise is Neftegazholding (NGH), a small Moscow-based independent run by businessman and former senior executive at state-owned Rosneft, Eduard Khudainatov. According to local authorities, development drilling at the site bega
Also in this section
13 January 2025
With Namibia, Guyana and Brazil playing starring roles and important innovations being developed, business as usual has never looked so good
13 January 2025
Regional cooperation over the development of gas resources has the potential to bring peace and prosperity to the East Mediterranean
13 January 2025
Significant expansions are underway in both liquefaction and regasification capacity as LNG firms up its position as a long-term solution for the world’s energy needs
10 January 2025
New Petroleum Economist OPEC+ oil survey sees group improve compliance to ensure oil market stability going into 2025
