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It was known for a long time that hydrocarbons existed below the ice in this location. Russia simply lacked the expertise to explore it properly and so it there
by johnohara 8y ago
It was known for a long time that hydrocarbons existed below the ice in this location. Russia simply lacked the expertise to explore it properly and so it there it sat.
To my knowledge, only two companies worldwide possess the ability to explore in such harsh conditions: ExxonMobil and Royal Dutch Shell.
Russia, via Rosneft, opted to partner with ExxonMobil to explore the region and created the project photo-documented by the original post. It is known as Sakhalin-1 [1]. ExxonMobil is the principal operator and a 1/3 partner.
This article by CNBC [2] does a decent job of discussing the project and some of the economic and political issues involved. Personally, I found the contents below the fold the most informative and insightful.
Associated links:
[1] https://www.sakhalin-1.com/ https://www.sakhalin-1.com/
[2] https://www.cnbc.com/2016/12/13/exxon-mobil-could-tap-huge-arctic-assets-if-us-russian-relations-thaw.html https://www.cnbc.com/2016/12/13/exxon-mobil-could-tap-huge-a...