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Norwegian state oil company Equinor and Russia`s Rosneft will invest in the first stage of the development of North Komsomolskoy. a conventional oil and gas field in western Siberia. it was reported here.
According to the statement from the Norwegian company. the total recoverable volumes for stage one are estimated at 250 million barrels of oil and 23 billion cubic meters of natural gas.
`This is an important milestone in the joint project we have been working on for seven years.` Elisabeth Kvalheim. Country Manager for Equinor in Russia. stated.
According to the information. the North Komsomolskoye project was part of the strategic cooperation agreement signed by Rosneft and Equinor in May 2012.
Since 2018. Kvalheim added. the association has carried out production tests to better understand the properties of the field and lay the groundwork for the full decision to develop the field.
`During these years we built a strong working relationship with Rosneft and demonstrated that we can execute together efficiently and safely. This forms a good basis for the next phases of the project.` she stressed.
Equinor owns a 33.33 percent and Rosneft owns a 66.67 percent stake in the joint venture SevKomNeftegaz. which owns the North Komsomolskoye field license. the statement added.
