Is Russia drilling for oil in the Arctic?

UPDATE 1-Russia’s Rosneft drilling again in Arctic Kara Sea after sanctions hiatus. MOSCOW, Aug 18 (Reuters) – Russia’s largest oil producer Rosneft has started drilling on two wells in the Kara Sea in the Russian Arctic, its Chief Executive Igor Sechin said on Tuesday.

Why does Russia claim the Arctic?

The main goals of Russia in its Arctic policy are to utilize its natural resources, protect its ecosystems, use the seas as a transportation system in Russia’s interests, and ensure that it remains a zone of peace and cooperation. Russia has plans to exploit the large offshore resource deposits in the Arctic.

What is Russia doing in Arctic?

Russia’s growing attention to the Arctic can be seen both in concrete actions such as the building of various infrastructure in the region, such as building icebreakers, opening up oil and gas pipelines, developing the Arctic for tourism, encouraging international cooperation for Arctic development, in addition to …

Why is Arctic oil bad?

The vast size, remote location, and extreme weather conditions—combined with the complete lack of infrastructure for responding to oil spills—make drilling in the Arctic Ocean extremely dangerous. Our ability to respond to emergencies and oil spills is severely limited.

What is the Russian oil project in the Arctic?

The Vostok project, the cornerstone of Russia’s Arctic ambitions, brings together several Rosneft activities in the Russian Far North. Russian oil giant Rosneft on Wednesday announced the start of operations for its giant Vostok oil project in the Arctic, part of the country’s strategic energy plan which has been criticised by environmentalists.

How much oil does Russia produce per year?

Sechin said the Arctic endeavour would eventually produce 100 million tonnes of oil per year. Between now and 2024 he said that 30 million tonnes would be sent from the Arctic along the so-called Northern Sea route connecting the Atlantic Ocean to the Pacific, This document is subject to copyright.

Where does Rosneft have projects in the Arctic?

The Vostok project, the cornerstone of Russia’s Arctic ambitions, brings together several Rosneft activities in the Russian Far North, near the northern sea route that the company intends to exploit to deliver to Europe and Asia.

What is the strategic plan for Russia’s mineral resources?

The strategic plan for Russia’s mineral resources stretches to 2035 and is banking on growing global demand, though it does predict that natural gas will partially replace oil and coal. “Mineral resources will remain a competitive advantage of Russia’s economy, and will determine the place and role of the country in the world,” it says.

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