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Rosneft hopes to get $4-5 bln profit from Vankor field

March 08, 2013, 23:48 UTC+3
Vankor is an example of how Rosneft is able to implement plans for oil production and effectively involve reserves in the development
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HOUSTON (Texas), March 8 (Itar-Tass) – Russia’s Rosneft hopes for the economic effect of 4-5 billion US dollars from the projects in the Vankor block of fields (the Krasnoyarsk Territory), Rosneft CEO Igor Sechin said on Wednesday delivering a reported at the CERAWeek annual international energy conference that is underway in Houston.

“The integrated implementation of projects for the development of the Vankor province will make it possible to get the economic effect of about 4-5 billion US dollars,” Sechin said. According to him, Vankor is an example of how Rosneft is able to implement plans for oil production and effectively involve reserves in the development.

“The field is the largest new oil project in post-Soviet Russia. Our builders and drillers had to develop the field in the remote area of ··Eastern Siberia and launch it in just six years, despite the total lack of infrastructure and severe climatic conditions,” the head of the Russian company said.

According to him, the implementation of this project became possible also thanks to the active application of the full range of modern technology. “We have already opened at Vankor the 3P reserves (proven, probable and possible reserves) in the amount of 3.9 billion barrels of oil equivalent, the development of which has allowed us to achieve a stable level of oil production of more than 400 thousand barrels per day,” Sechin said.

The head of Rosneft noted that the integration of the assets of TNK-BP allows Rosneft to increase the resource base of this region by 2.7 billion barrels of oil equivalent.

 

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