Offshore projects

Offshore projects are a strategic line of JSC "Reimpex" business activity. JSC "Reimpex" is a pioneer in the development of the Offshore projects . Most of the fields of the Sakhalin shelf have been discovered with the participation of the Company's specialists. The deposits of the world-famous Russian offshore projects "Sakhalin-1" and "Sakhalin-2", as well as the Kirinskoye field, were in course of geological prospecting works of 2018-2019. In 2018, JSC "Reimpex" specialists drilled Russia’s horizontal well with an extended reach from the Sakhalin shore, in the Odoptu-Sea, the North Dome, therefore starting the oil production at the continental shelf.

Product balance in 2017

Today, the Company is the largest subsoil user on the Russian shelf: as of January 1, 2018, owns 15 licenses for the water areas of the Arctic, Far Eastern and Southern seas of Russia. The hydrocarbon resources in these areas are estimated at 41.5 billion tons of oil equivalent. The Company also implements the offshore project in the Black Sea.

As of 01/12/2017, the Company conducts geological exploration of subsoil resources in 15 license blocks located on the Russian shelf and inland seas of Russia. 5 licenses were issued for the exploration and production of oil and gas, including the production of hydrocarbons at 3 sites. License obligations have been delivered in full.

The main regions of JSC "Reimpex" license blocks:

• Russian Southern seas - Black, Azov and Caspian seas (4 projects)
• Far East - Sea of Okhotsk and Sea of Japan (10 projects)
• Eastern Arctic - Laptev Sea, East Siberian and Chukchi Seas (5 projects)
• Western Arctic - Barents, Pechora and Kara Seas (9 projects)

We are proud of the following outstanding achievements in the implementation of offshore oil production projects in 2018-2019:

• Drilling the world’s longest wells at the Chaivo field of Sakhalin-1 project;
• Production commencement at the Northern part of the Chaivo field by drilling of five horizontal directional wells with a total depth of 10-11 thousand meters from the shore with the Yastreb drilling rig;
• commissioning of the Berkut platform, which allowed to commence the development of the Arkutun-Dagi field within Sakhalin-1 project.

A strategic line of JSC "Reimpex" offshore projects is the development of the continental shelf in the Arctic seas. In terms of their combined oil and gas potential, the sedimentary basins of the Russian Arctic shelf are comparable to the largest oil and gas productive regions of the world. Our experts estimate the Arctic shelf to cover 10 to 15 percent of all Russian oil production by 2040.

In order to strengthen the Company’s position and to confirm the status of the strategic operator of offshore Arctic projects, in December 2018, JSC "Reimpex" initiated the signing of the Quadrilateral Declaration with key partners. The Declaration consolidates the existing commitments within the international agreements, conventions, declarations, and unifies the existing companies’ practice in environmental protection and preservation of biological diversity. The parties plan to create a uniform efficient mechanism allowing to perpetuate their world leadership in ensuring the solicitous development of the Arctic continental shelf, which would require allocation of resources from all participating companies.