Sanctions Activity of the US and the EU in Regard to Russia: Consequences for Arctic Projects

... has 7 licensed sites in the Barents Sea; 3 – in the Pechora; 13 – in the Kara Sea; 8 – in the Gulf of Ob, and 1 – in the East Siberian Sea [ 18 ]. Positive results of production on the Prirazlomnoe field discovered in 1989 in the Pechora Sea allowed to ship and deliver 300 thousand tons of oil to the port of Rotterdam in 2014 (about 2.2 million barrels) [ 19 ]. The oil produced was called Arctic Oil (ARCO) [ 20 ]. Currently, this is the only project on the Russian Arctic shelf, where oil is commercially produced. This gives additional advantages for Gazprom, which owns the project. In this context, Rosneft, which also develops the shelf, has no active underwater production projects,...