Operations are scheduled to start in June, in Dolginskoye deposit on the southeastern part of the Barents Sea from the Russian continental platform.
Grup Servicii Petroliere signed the exploration deal with Gazprom Neft, a unit of Gazprom.
“It is a fact the exploration of the Arctic is more difficult than any other area. Since 2004, we have invested almost EUR1 billion in acquisitions and upgrade of platforms and ships,” said Gabriel Comanescu, president and CEO with Grup Servicii Petroliere.
Grup Servicii Petroliere previously signed a $270 million deal with Gazprom in November 2009, for the construction of an over 159-kilometer natural gas transport underwater pipeline.
(English version by Manuela Panescu)