Drilling of Prospecting and Appraisal Well Begins at Sakhalin-3 Veninsky License Block

Drilling of prospecting and appraisal well No.3 has begun at the North-Veninskaya formation in the Veninsky license block, a part of the Sakhalin-3 project. The KANTAN 6 jack-up drilling rig is drilling the well, which has a planned measured depth of 3,830 metres and vertical deviation of 750 metres. The drilling site is located 7 kilometres offshore at a sea depth of 25 metres. Drilling and subsequent geological and geophysical survey will run through the end of September.

At the end of June, Trustee, a specialized transportation vessel, delivered KANTAN 6 for unloading in Aniva Bay, from where the jack-up drilling rig was mobilised to the drilling site.

The KANTAN 6 drilling rig was commissioned in December 2010. It is equipped for operation in northern climatic conditions and was built in full compliance with Russian legal environmental requirements and regulations. The rig’s helicopter pad was built to accommodate Mi-8 helicopters. The platform is equipped to collect and ship (by container) drilling sludge and mud.

A joint Venineft team of Russian and Chinese specialists is managing drilling operations. Experienced Russian companies operating on Sakhalin provide supply, transport, communication and environmental monitoring services. A specially equipped rapid response vessel will patrol the drilling site around-the-clock during the entire drilling period in compliance with safety requirements for emergency situations.

Notes for editors Rosneft and the China Petrochemical Corporation (Sinopec) are partners at the Sakhalin-3 project’s Veninsky block, holding 74.9% and 25.1% stakes respectively. Venineft, a joint venture between the two companies, operates the project and holds the exploration license. According to a DeGolyer and MacNaughton report, estimated recoverable resources as of 31 December 2010 are 17.2 million tonnes of oil and 238 billion cubic metres of gas. In 2003 – 2010, 980 km2 of 3D seismic and 125.5 km of 2D seismic (transition zone) were carried out at the block under license committments. Four wildcat wells have been drilled. The North-Veninskoye gas condensate field was discovered, containing C1+C2 reserves of 49.02 billion cubic metres of gas and 1.21 million tonnes of condensate.

Notes for editors

Rosneft and the China Petrochemical Corporation (Sinopec) are partners at the Sakhalin-3 project’s Veninsky block, holding 74.9% and 25.1% stakes respectively. Venineft, a joint venture between the two companies, operates the project and holds the exploration license.

According to a DeGolyer and MacNaughton report, estimated recoverable resources as of 31 December 2010 are 17.2 million tonnes of oil and 238 billion cubic metres of gas.

In 2003 – 2010, 980 km2 of 3D seismic and 125.5 km of 2D seismic (transition zone) were carried out at the block under license committments. Four wildcat wells have been drilled. The North-Veninskoye gas condensate field was discovered, containing C1+C2 reserves of 49.02 billion cubic metres of gas and 1.21 million tonnes of condensate.

Rosneft Information Division July 9, 2012