Rosneft, ExxonMobil discover oil in Kara Sea

"Rosneft has successfully completed the drilling of the world's northernmost Arctic well Universitetskaya-1, which resulted in the discovery of oil in the licensed area of the East-Prinovozemelsky field in the Kara Sea. Drilling was carried out in record time - one and a half months, with complete compliance with all the technological and environmental requirements," Rosneft said in its statement.

"Preliminary assessment of the resource base only for this first opening has trapped 338 million cubic meters of gas and 100 million tons of oil , and this is only one of the structures in this field," the head of Rosneft, Igor Sechin, upon first discovering oil in the area. ■