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The Arctic shelf off the northern shores of Chukotka can contain significant hydrocarbon reserves

Russian scientists suggest that there may be significant oil reserves in the Chukotka Autonomous Region. Geological exploration at three license areas will begin later this year.
In order to confirm or refute this theory, from this year exploration work will be carried out in Chukotka, which will last until 2015 and will affect the license areas "Yuzhno-Chukotsky", "Severo-Wrangel'skiy-1" and "Severo-Wrangel'skiy-2". Licenses for all three blocks are owned by Rosneft.
The Arctic shelf off the northern coast of Chukotka (the waters of the Chukchi and East Siberian seas) may contain significant hydrocarbon reserves. While their volume is not known and will be updated only after the completion of detailed studies.
In the course of geological exploration, it is necessary to clarify the prospects of projects, to conduct seismic exploration in the 2D format and to detail the structure of previously identified promising objects at the sites, according to the Mineralov.ru Catalog. Gravity, magnetic, electrical, and geochemical surveys will be conducted in parallel with the seismic surveys.
In mid-December of this year, public hearings will be held in Chukotka, where local residents will express their opinion on the start of hydrocarbon production in the coastal zone.



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