Thursday, March 03, 2011

Russia hugs Arctic offshore drilling

Thursday, March 03, 2011

Russia, onshore oil reserves dwindle slowly, signed last month an Arctic exploration deal with British petroleum giant BP, their offshore drilling were prospects in the United States last year, the Gulf of Mexico disaster dimmed. Drilling, other Western oil companies, Moscow's openness for new ocean to see now have similar discussions with Russia.

New oil from Russia could to vital now, that it has surpassed Saudi Arabia as the world's largest oil producer and as long as the global demand for oil on the world supply in the coming decades.

But as continue the offshore Russian efforts, oil companies will be venturing large countries ringing the Arctic Ocean - the United States and Canada where other - were careful oilfield development continue to let both the safety and environmental reasons.

After the BP disaster in the Gulf last year following a catastrophic Ocean spill highlighted American and Canadian regulators focused on the challenges in the Arctic.

The icepack and various threats to oil rigs and crews make icebergs. And if oil were spilled in the winter, purge place would completely in the dark devouring the region during these months.

Earlier this month, Coast Royal Dutch Shell, which postponed plans for drilling off Alaska's Arctic as the company still hurdles from careful Washington regulators face.

To control the Russians that far more potential drilling combined area in the Arctic Ocean as the United States and Canada should be very different.

As maturity could his Siberian oil fields daily production in Russia, be reduced without new development to almost one million barrels in the year 2035, according to the International Energy Agency. With its economy depending on oil and gas, which account for approximately 60 percent of all exports, Russia little other choice sees offshore to go - with foreign partners provide expertise and share billions of dollars in development costs.

And if anything, the Gulf disaster encouraged Russia BP advance as its first partner. According to the Russian Prime Minister Vladimir V. Putin, BP is the safest company for offshore activities today to rent their lesson learned in the Gulf region.

"Men, two worth a beaten man unbeaten" said Mr Putin, citing, after BP signed his Arctic focus a Russian proverb on the Russian State oil company Rosneft. The joint venture calls a three sections in the Kara Sea companies to explore coastal backwater North of Central Russia frozen in the ice.

The BP agreement touched throw little public reaction in Russia, partly because the environmental movement but also weak because opposition politicians have no way to block or hinder the process.

The Arctic holds one fifth of global undiscovered, recoverable oil and natural gas, the United States Geological Survey estimates. A report 2009 of the Energy Department 43 are noisy 61 essential Arctic oil and fields in Russia. The Russian side of the Arctic is especially rich in natural gas during the North American site rich in oil.

While the United States and Canada Balk, others are clearing Arctic region for the industry. Norway, that last year a boundary dispute with Russia resolved, prepares to open new Arctic areas for drilling.

Last year Greenland, the semi-autonomous from Denmark, 2009, was allowed to do some preliminary drilling Cairn Energy. Cairn, Scottish company plans wells, four more mobile this year while Exxon also expected in the coming years to drill Chevron and shell.

But the five countries with Arctic sea coast, has Russia the most at stake in the research and development of the region.

"Russia is one of the basic building blocks in world oil supply,", said Daniel Yergin, the oil historian and Chairman of the IHS Cambridge Energy Research Associates. "It has a crucial role in the global energy balance." "The Arctic are a critical factor in determining how much oil, Russia over 15 years produces and export in the world."

After the BP transaction negotiated Rosneft shutdown of North America joint venture agreements with other major oil companies and explore intent on the Arctic continental shelf off Russia's northern coast. These include shell Chief Executive said last month. Rosneft's Chief Executive, Edward y. Khudainatov, said other representatives of the foreign oil company outside his Office in these days were snake.

Moscow has Artur N. Chilingarov, a Polar Explorer, Arctic sweep ambitions since he drove mini sub marine and claimed a Russian flag at the bottom of the ocean at the North Pole, placed in a 2007 embodies it for Russia, an expedition.

"The future on the shelf is", said Mr Chilingarov, Member of the Russian Parliament, the Duma, in an interview. "We pumped already country dry."

Andrew E. Kramer reported from Moscow and Clifford Krauss from Houston.

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