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Caspian sea offshore projects.

We are proud of the following outstanding achievements in the implementation of offshore oil production projects in 2014-2016: commissioning of the Berkut platform, which allowed to commence the development of the Arkutun-Dagi field within Sakhalin-1 project; Production commencement at the Northern part of the Chaivo field by drilling of five horizontal directional wells with a total depth of 10-11 thousand meters from the shore with the Yastreb drilling rig; Drilling the world’s longest wells at the Chaivo field of Sakhalin-1 project. By the end of 2016, oil and gas production at the Companys offshore fields exceeded 7 million TOE. A strategic line of Rosneft’s offshore projects is the development of the continental shelf in the Arctic seas. In terms of their combined oil and gas potential, the sedimentary basins of the Russian Arctic shelf are comparable to the largest oil and gas productive regions of the world. Our experts estimate the Arctic shelf to cover 20 to 30 percent of all Russian oil production by 2050. Large-scale offshore projects of the Russian company lay the basis for international cooperation of Rosneft and the worlds leading oil and gas companies: ExxonMobil, Eni, Statoil. "We proceed from the premise that Russia should become a leader in developing Arctic resources, an exporter of high-tech oilfield services," emphasized Igor Sechin. The history of strategic international partnership on the shelf began in 1995 with the development of offshore sections of the Sea of Okhotsk: Sakhalin-1 project in cooperation with ExxonMobil, ONGC and Sodeco, Sakhalin-3 project (Veninsky block) in cooperation with Sinopec and West-Kamchatka District in cooperation with KNOC. As a result of the extensive geological exploration program, the following fields were discovered: North-Veninskoye gas condensate field, Kaigansko-Vasyukanskoe Sea and Novo-Veninskoye oil and gas condensate fields. The second stage of international cooperation at the Russian shelf began in 2011, when the Russian company signed a Strategic Cooperation Agreement with ExxonMobil on license blocks of the Kara Sea and Black Sea shelf. In February 2013, Rosneft and ExxonMobil extended their strategic cooperation, supplementing the Contract with seven Arctic license blocks with a total area of about 600 thousand sq. km in the Chukchi Sea, the Laptev Sea and the Kara Sea. In June, the companies announced the completion of several work stages, including the creation of joint ventures to implement the projects in the Kara and Black Seas, agreeing on the joint venture terms within the seven additional licenses in the Russian Arctic zone.