The East-Prinovozemelsky field (also referred as Vostochno-Prinovozemelskoye structure – meaning: East of Novaya Zemlya structure) is a gigantic undeveloped Arctic oil and gas field located in the South Kara basin of the continental shelf of Russia, in the South Kara Sea between the Yamal Peninsula and Novaya Zemlya island. It is the continuation of the continental West Siberian hydrocarbon province.
History
The field is divided into three license blocks: EPNZ-1, EPNZ2, and ENPZ-3.[1] In October 2010, licenses for all three blocks were awarded to Russian oil company Rosneft.[2][3] In January 2011, Rosneft announced that it will form a strategic alliance with BP to develop the East-Prinovozemelsky oil and gas field.[1]