Rosneft makes oil find off Russia

Russia's Rosneft has announced that it has successfully completed the drilling of the first prospecting and appraisal well at the Vostochno-Pribrezhny license block on the shelf of Sakhalin Island, resulting in the discovery of a new oil field.

The well was drilled by Rosneft’s own drilling contractor RN-Burenie to a depth was 3,047 metres; the vertical deviation was 1,450 metres. The Russian oil firm said that a set of geophysical studies in the open hole confirmed the oil saturation of productive formations.

Rosneft is now preparing to test the well in casing. According to preliminary estimates, the reserves are up to 2 million tonnes of oil, which will be included in the state balance sheet in 2019.