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Rosneft investments in Far East to reach 79 billion rubles by 2015 — Rosneft president

April 25, 2014, 9:55 UTC+3 KHABAROVSK
Rosneft can produce at east Siberia’s Vankor fields 31 million tons of oil and 8 billion cubic meters of gas by 2020
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Siberia’s Vankor oil fields

Siberia’s Vankor oil fields

© ITAR-TASS/Grigory Sysoev

KHABAROVSK, April 25. /ITAR-TASS/. Investments of Russian oil major company Rosneft will double to reach 79 billion rubles ($2.2 billion) in the Far Eastern Federal District by 2015, Rosneft President Igor Sechin said at a meeting of the governmental commission on socio-economic development of the Far East which Prime Minister Dmitry Medvedev is holding in the Siberian city of Khabarovsk on Friday.

“Investments of the company in the Far Eastern Federal District have increased from 19 billion rubles (around $532.4 million) to 37 billion rubles (around $1 billion) from 2011 to 2013. By 2015 they will double again to 79 billion rubles,” Sechin said, adding that “in comparable prices, the annual growth will make around 25-30% from 2012 to 2015."

 

Developing Vankor fields

Rosneft can produce at east Siberia’s Vankor fields 31 million tons of oil and 8 billion cubic meters of gas by 2020, Sechin said on Friday.

Rosneft “has launched development of new Vankor fields. They will provide for additional output of around 31 million tons of oil and 8 billion cubic meters of gas in eastern Russian regions until 2020,” the Rosneft CEO said.

 

Oil&gas on continental shelf

Rosneft’s resource potential on the continental shelf in northern seas makes 9 billion tons of oil and around 9 trillion cubic meters of gas, Sechin said.

“Presently the company owns 21 licenses on continental shelf sections in the Sea of Okhotsk, Chukchi Sea, the East Siberian Sea and the Laptevs Sea. Resource potential of these sections makes 9 billion tons of oil and around 9 trillion cubic meters of gas,” he added.

Rosneft's Investments will make 112 billion rubles (around $3.1billion) in geological prospecting on the continental shelf of the Far East by 2018, Sechin added.

“The company plans that investments in geological prospecting on Far East’s continental shelf will increase to reach 112 billion rubles from 2014 to 2018,” Sechin said.

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