Russian energy company Rosneft announced the discovery of a massive oil resource in the Pechora Sea with an estimated 82 million tons of oil.

A drilling campaign in the Medynsko-Varandeysky area led to the discovery of the field. “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.”

According to Rosneft, the exploratory work in the Pechora Sea confirmed the "substantial oil potential of the Timan-Pechora province on the shelf and served as the foundation for continuing the study and development of the region."

The company reportedly controls a total of 28 offshore licenses in the Arctic, eight of them in the Pechora Sea.

Arctic of military operations 

On another note, Nikolay Korchunov, Russia's Ambassador-at-Large for Arctic Cooperation, told Sputnik in May that the Arctic area has become an international theater of military operations since Finland and Sweden filed for NATO membership.

Commenting on their membership bids, Korchunov stated, "We are seeing an increase in international military activity in polar latitudes. There is the internationalization of military activities. The transformation of the Arctic region into an international theater of military operations is, of course, a very disturbing trend. We cannot but be concerned about this."

The Ambassador added that "the policy of non-alignment to military alliances, the traditional policy of Sweden and Finland, has long provided a solid basis for maintaining peace and stability in polar latitudes. The possible accession of these countries to NATO is unlikely to contribute to this goal."