Rosneft Oil Co. approved the sale of a 10% stake in Vostok Oil LLC to Trafigura Pte. Ltd.
Earlier in the year, Rosneft and its partners noted plans to form a new oil and gas province in northern Russia, on Taimyr Peninsula—Vostok Oil (OGJ Online, Feb. 14, 2020). Proven potential for liquid hydrocarbons is 6 billion tonnes (44 billion bbls), the company said Nov. 18. About 400 km north of Vankor, the project includes two large fields, Payakhskoye and Zapadno-Irkinskoye.
To meet energy needs of the project, Rosneft let a contract to Inter RAO PJSC to design and construct energy infrastructure, which includes power centers with a total capacity of 2.5 Gw, as well as over 3,500 km of power lines.
To organize product exports from the project, the Zvezda shipyard placed an order for a series of 10 tankers of high ice class with deadweight 120,000 tonnes adapted for operation on the Northern Sea Route. Fifty ships of various classes are expected to be built.
Over 20,000 production and injection wells are to be drilled and a long-term contract for supply of 100 drilling rigs was approved.
KAMAZ PJSC will establish service centers at the oil fields and supply transport vehicles and special equipment. Up to 2,500 vehicles are expected during the initial stage with possible future demand of up to 6,000 vehicles.
The Vostok Oil project is expected to create tens of thousands of jobs. The Institute of Forecasting of the Russian Academy of Sciences projects the project’s implementation creates additional incentives for localization of high-tech equipment and provides an increase in domestic demand for products of various industries equivalent to 2% of GDP/year.
