Observations on Oil and Gas Production in the Timan-Pechora Basin

Abstract

The Timan-Pechora basin, a promising hydrocarbon-producing region in the European part of Russia, reportedly has an estimated 1.3 billion tons of “proven” (A+B+C1) and 0.6 billion tons of C2 reserves of oil and 800 billion cubic meters of A+B+C2 reserves of natural gas. The distribution of the basin's reserves, embracing federally subordinated, republican, and autonomous jurisdictions, tends to create opportunities as well as additional complications for foreign developers. Harsh climatic conditions, swampy terrain, and other difficulties (e.g., heavy and paraffinic oils) have impeded rapid development. Nevertheless, the Timan-Pechora basin has become a major focus of joint venture activity involving, among other multinational oil companies, Conoco, Texaco, Exxon, and Amoco. New projects, with previously discovered fields containing an estimated 2 to 5 billion barrels of oil, appear to offer potential yields of about 6 million tons per annum by the year 2000.