Russian oil and gas giant Rosneft claims to have made an 82-million-ton oil discovery in the Pechora Sea. Rosneft has a controlling interest in 28 offshore licenses in the Arctic including 8 in the Pechora Sea where this most recent discovery was made. Western analysts have speculated that Russia doesn’t have the expertise or technology to grow oil production in the region, but the head of Rosneft believes they do. Russian state-run Rosneft has confirmed an 82-million-ton oil discovery in the Pechora Sea in the Arctic. Rosneft discovered the field thanks to a drilling campaign in the Medynsko-Varandeysky area. “During the tests, a free flow of oil was obtained with a maximum flow rate of 220 cubic meters a day,” the company’s statement read on Wednesday, noting that the “oil is light, low-sulfur, low viscosity,” Rosneft said, describing the drilling campaign in the Medynsko-Varandeysky area, as reported by Russian […]