Gazprom Neft to get first oil at Prirazlomnoye field in Q4

MOSCOW: Gazprom Neft, the oil arm of Russian state gas export monopoly Gazprom, plans to pump first oil at its Arctic Prirazlomnoye field in the fourth quarter, the field's operator said on Tuesday.

Prirazlomnoye, the first Arctic offshore oil deposit to be developed by Russia, is located in the Pechora Sea, 60 kilometres (40 miles) from the northern coast.

It is expected to reach peak production of 6 million tonnes per year (120,000 barrels per day) in 2019.

The Arctic is seen as a key source of potential growth for Russia, the world's largest oil producer, in the next decade. A start of production at Prirazlomnoye had been delayed due to safety concerns.