Asset Report

Russia South Kara Sea exploration basin

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19 January 2016

Russia South Kara Sea exploration basin

Report summary

The South Kara Sea/Yamal basin is located in northern Russia within the Arctic Circle. Much of the province is thought to be gas-prone. Exploration to date has focused on Cretaceous reservoirs in the southern onshore area. However, several wells have also been drilled offshore, where, in 2014, a joint venture between Rosneft and ExxonMobil discovered the giant Pobeda gas field. Pobeda also contains significant volumes of oil, but further appraisal of these is required. This is likely to be delayed due to the current US and EU sanctions imposed on activities in the Russian Arctic. If oil reserves can be found in the basin, significant value can be created. However, the high-cost, harsh operating environment, and long lead times and production lives associated with discoveries mean that returns are limited.

Table of contents

Tables and charts

This report includes 47 images and tables including:

  • Key play characteristics
  • Value creation versus investment (TYP period)
  • Value creation versus investment (outlook)
  • Exploration history map
  • Exploration wells by play
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Key licence holders
  • Key play characteristics
  • Recent discovery costs
  • Summary of discovery and development costs
  • Exploration and appraisal spend
  • Exploration spend per well and average well depth
  • Commerciality index
  • Key well operators (TYP period)
  • Gross exploration wells completed by operator
  • Net exploration wells completed by participant
  • Drilling activity by well type
  • Cumulative exploration wells by play
  • Discoveries and success rates
  • Discoveries by license year and drilling year
  • Basin creaming curve
  • Key basin data
  • Volumes discovered by year
  • Average discovery size and volume per well by year
  • Top discoveries (TYP period)
  • Cumulative discoveries by play
  • Cumulative volumes discovered by play
  • Frontier methodology parameters
  • Forecast data by Play (outlook)
  • Development: Table 1
  • Category Four Arctic Offshore Terms
  • Brent and local oil price assumptions
  • Value creation, spend and volume discovered
  • Returns by drilling year
  • Economic analysis: Image 3
  • Value creation versus investment
  • Full-cycle economic analysis
  • Mesozoic Shelf
  • Mesozoic Shelf - oil
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities
  • Mesozoic Shelf - oil
  • Mesozoic Shelf - oil
  • Average value of future discoveries and implied acreage value

What's included

This report contains:

  • Document

    Russia South Kara Yamal Sub-basin.zip

    ZIP 2.18 MB

  • Document

    Russia South Kara Sea exploration basin

    PDF 902.97 KB

  • Document

    Russia South Kara Sea exploration basin

    ZIP 2.99 MB

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