Two new hydrocarbon deposits were discovered after drilling and testing of well #294 at the Utrenneye field in Russia, operator Novatek announced late Tuesday.
The two new deposits’ reserves were confirmed as commercial viability of mid-Jurassic deposits. Subject to the Russian State Reserves Commission's confirmation, it is estimated that 405 billion cubic meters (bcm) of natural gas and 40 million tons of gas condensate are held at this site.
"The reserves are within the Utrenneye license area, owned by Arctic LNG 2," the company confirmed.
The Utrenneye field is located in the hydrocarbon-rich Gydan peninsula in the Yamal-Nenets Autonomous District.
The statement also read that as of Dec. 31, 2017, the Utrenneye field’s reserves under the Russian reserve classification totaled more than 1.5 trillion cubic meters of natural gas and 65 million tons of liquids.
By Gulsen Cagatay