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. Last Updated: 07/27/2016

Rosneft Has New Discoveries

Rosneft found two deposits in East Siberia that may hold 1.17 billion barrels of oil, the company said Monday on its web site.

The Sanarsky and Lisovsky fields lie 130 kilometers and 70 kilometers to the west of Rosneft's Verkhnechonsk production venture with TNK-BP, which supplies Russia's eastbound oil pipeline. More exploration is needed to determine the volume and quality of the resources.

Russia won't be able to satisfy Chinese requests to double oil supplies by the pipeline anytime soon because of the need to develop deposits and links, Nikolai Tokarev, head of Transneft, said in September. Rosneft held 15.15 billion barrels of proved oil and gas reserves at the end of 2009, according to an audit.

(Bloomberg)