Kolskaya Oil Rig Sinking Sparks Doubt Over Arctic Plan 12/23/11 06:07 AM ET
MOSCOW -- The sinking of a floating oil rig that left more than 50 crew dead or missing is intensifying fears that Russian companies searching for oil in remote areas are unprepared for emergencies ? and could cause a disastrous spill in the pristine waters of the Arctic.
Only four months ago, Russian energy giant Gazprom sent Russia's first oil platform to the environmentally sensitive region, and industry experts and environmentalists warned it is unfit for the harsh conditions and is too far from rescue crews to be reached quickly in case of an accident. They are demanding Russia put Arctic oil projects on hold.
Russia is the world's largest oil producer, but it extracts most of its oil onshore, with no more than 2 percent of its production coming from mature offshore fields in the warm Black and Caspian seas and relatively new fields just off Sakhalin Island in the far east.
As Russia's core oil fields in Eastern Siberia are depleted, companies are looking north. The government hopes that up to 80 million tons of oil will be produced annually in the Arctic by 2030.
Russia is trying to assert jurisdiction over parts of the Arctic, which is believed to hold up to a quarter of the Earth's undiscovered oil and gas. By speeding up the Arctic oil project, the government is strengthening its bid.
More and videos:
http://www.huffingtonpost.com/2011/12/23/kolskaya-oil-rig-sinking-arctic_n_1167103.html
MOSCOW -- The sinking of a floating oil rig that left more than 50 crew dead or missing is intensifying fears that Russian companies searching for oil in remote areas are unprepared for emergencies ? and could cause a disastrous spill in the pristine waters of the Arctic.
Only four months ago, Russian energy giant Gazprom sent Russia's first oil platform to the environmentally sensitive region, and industry experts and environmentalists warned it is unfit for the harsh conditions and is too far from rescue crews to be reached quickly in case of an accident. They are demanding Russia put Arctic oil projects on hold.
Russia is the world's largest oil producer, but it extracts most of its oil onshore, with no more than 2 percent of its production coming from mature offshore fields in the warm Black and Caspian seas and relatively new fields just off Sakhalin Island in the far east.
As Russia's core oil fields in Eastern Siberia are depleted, companies are looking north. The government hopes that up to 80 million tons of oil will be produced annually in the Arctic by 2030.
Russia is trying to assert jurisdiction over parts of the Arctic, which is believed to hold up to a quarter of the Earth's undiscovered oil and gas. By speeding up the Arctic oil project, the government is strengthening its bid.
More and videos:
http://www.huffingtonpost.com/2011/12/23/kolskaya-oil-rig-sinking-arctic_n_1167103.html