Gazprom Neft announced the discovery of the oil field in southern Yamal, boasting geological reserves of 55 million tons, as reported by the company on February 11.
The deposit is situated within the South Novy Port and Saletinsky blocks, which are part of the company’s cluster in the region that also includes the "Gates of the Arctic" terminal in the Ob Bay area.
As noted by the company, this is the largest oil field discovered in Yamal in 30 years. The discovery followed a three-year cycle of geological exploration, including seismic studies and the development of geological and hydrodynamic models. Monitoring of drilling was conducted remotely from the control center in Tyumen. Gazprom Neft plans to conduct follow-up exploration soon to clarify the production potential. The company did not provide additional comments on this matter.
According to Dmitry Kasatkin, managing partner at Kasatkin Consulting, follow-up exploration could take two to three years and require approximately 10 to 30 billion rubles. For infrastructure construction and drilling of the operational fund, investments may range in the hundreds of billions of rubles. Mr. Kasatkin highlighted that within the cluster, capital expenditure (CAPEX) can be optimized through the use of the Novy Port field and the "Gates of the Arctic" terminal.
Oleg Abelyev, head of the analytical department at RICOM-Trust, believes it will take five to six years for the project to reach plateau production, with peak output expected after 2030. He stated that the optimal production level for Arctic infrastructure is between 3 to 3.5 million tons of oil annually. While increasing volumes to 5 million tons is technically feasible, it would require more intensive drilling and a significant rise in capital costs. He adds that a stable production level can be maintained for 10 to 12 years.
Dmitry Kasatkin believes the characteristics of the object classify it as an oil and gas condensate type, with the raw material likely composed of low-sulfur oil, gas, and condensate.
The extracted raw materials may enter the Arctic variety known as Novy Port, which is in demand on export markets and serves as feedstock for deep processing.
At the same time, the presence of gas and condensate will necessitate Gazprom Neft’s establishment of a comprehensive collection and preparation system, as well as effective schemes for the disposal of associated petroleum gas, according to the analyst.
The new field's strategic advantage lies in the increase of low-sulfur oil grades, notes Sergey Tereshkin, CEO of Open Oil Market. He explained that the demand for such raw materials remains stable due to stricter standards for marine and aviation fuels. According to Mr. Tereshkin, Arctic oil will be in demand in regions with a strong processing infrastructure—such as China, India, and the Middle East.
According to the Ministry of Natural Resources, 31 oil fields were discovered in Russia in 2025, with oil and condensate reserves increasing by 640 million tons.
The largest hydrocarbon fields have been found in Yamal and the Krasnoyarsk region. The discovery by Gazprom Neft does not alter the balance of the Russian market, but it confirms that Yamal can gradually replace Western Siberia, states Oleg Abelyev. Dmitry Kasatkin adds that the field provides Gazprom Neft with a long-term foundation in the development of the Arctic cluster. The operation of the project, he notes, will help mitigate the risks associated with declining production in mature fields of traditional hydrocarbon provinces.
Source: Kommersant
