Rosneft Gets License for Three Oil and Gas Blocks in Barents Sea

OAO Rosneft (ROSN), Russia’s largest oil producer, received a license to explore and develop three offshore oil and natural-gas blocks in the Barents Sea.

The fields have combined potential resources of as much as 3.3 billion metric tons, or 24.2 billion barrels, of crude and gas condensate and 2.8 trillion cubic meters of gas, the company said today in a statement on its website.

The blocks are located in the western section of the Barents Sea in an area bordering Norway’s economic zone, according to the statement.

To contact the reporter on this story: Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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