Licenses to Zapadno-Taimyrsky blocks 1–12 have been issued for a period of seven years, with Gazprom Neft acquiring them under the “Declarative Principle” (a new regulatory regime allowing unexplored blocks with probable reserves to be allocated without the need for an auction) for the first time. This regime provides for usage rights to a block being awarded to whichever subsoil user is first to submit a correct and complete application, provided that such block does not contain identified reserves and/or category D0 and/or DL “inferred” (potential but as yet undiscovered) hydrocarbon resources.

The Taimyr blocks are characterised by an extremely low level of geological investigation, and are considerably remote from transport and oil and gas infrastructure. Gazprom Neft is expected to undertake analysis and consolidation of regional data, together with aerial geophysical and field-based geological surveys of the area, in 2021–2122 before preparing a programme of exploratory geological prospecting works.

Alexander Dyukov, CEO and Chairman of the Management Board, Gazprom Neft, commented: “Developing oil production projects in the Arctic is a strategic priority for our company. There is a multitude of opportunities, both in previously discovered fields, and in exploring for new ones, beyond the northern Arctic Circle. Taimyr is one of the most under-researched areas in our country; we estimate this region’s potential very highly, and are starting to put in place a geological exploration programme to investigate it.”

Source: gazprom-neft.com