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Rosneft attracted $22.98 bln of foreign investment for its projects in Far East

September 01, 14:30 UTC+3 BOLSHOI KAMEN
By 2021, the Russian oil giant plans to invest in exploration of the continental shelf of the Far East more than $1.9 bln
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© Yuri Smityuk/TASS

BOLSHOI KAMEN, September 1. /TASS/. The volume of foreign investments attracted by Rosneft for its projects in the Russian Far East exceeded 1.5 trillion rubles ($22.98 bln), Rosneft CEO Igor Sechin said on Thursday at the launching ceremony of the first stage of Zvezda shipyard.

"We are successfully building long-term partnerships with leading international companies, recognized leaders in the global economy. In the last decade, the share of direct foreign investment, attracted by Rosneft for the Far Eastern Federal District amounted to a quarter of their total value in the region. In absolute terms, foreign investment, attracted by Rosneft for its projects in the Russian Far East exceeded 1.5 trillion rubles ($22.98 bln)," Sechin said.

He also said that by 2021 Rosneft plans to invest in exploration of the continental shelf of the Far East more than 130 bln rubles ($1.9 bln).

Sechin said that Rosneft, despite the sanctions and the current situation, fulfil its obligations for the development of the Far Easters shelf in full and ahead of schedule.

"The company has 19 shelf licenses in the Far East. Despite the sanctions, we fulfil our obligations for the development of the Far Easters shelf in full and ahead of schedule. This includes seismic surveys and exploratory drilling. These works are expensive, but important - they lead to obtaining most valuable information and discovery of new deposits," Head of Rosneft said.

Budget revenues from Sakhalin-1 project

The Russian budget revenues from the Sakhalin-1 project will amount to 6 trillion rubles ($91.93 bln) until 2055.

"An important mining project of Rosneft in the Far East - Sakhalin-1. More than 82 mln tonnes of oil and 19 bln cubic meters of natural gas was already produced as part of the project. According to our estimates, the Russian budget revenues from Sakhalin-1 will amount to 6 trillion rubles ($91.93 bln) until 2055," Rosneft's CEO said.

The project Sakhalin-1 (Rosneft - 20%, ExxonMobil - 30%, Sodeco - 30%, ONGC - 20%) develops oil fields Chayvo, Odoptu and Arkutun Dagi, located off the northeastern coast of Sakhalin Island in the Russian Far East. Operations and facilities are located on both the island and mainland Russia.

Seismic surveys in northern part of Sea of Japan

According to Sechin, Rosneft will begin seismic surveys in the northern part of the Sea of Japan on Central Tatar subsoil in the summer of 2017.

"The next priority in the regional exploration - studying potential of the northern part of the Sea of Japan within the Central Tatar subsoil with an area of 30,000 sq. km, and resources that equal 270 mln tonnes of oil and 322 bln cubic meters of gas. We plan to carry out 10,000 lin km of 2D seismic survey and 2,000 sq. km of 3D seismic survey - the works will begin in the summer of 2017, which will allow us to identify and carry out exploration drilling of prospective structures," he said.

It was reported earlier that the Federal Agency for the Subsoil Use (Rosnedra) has granted Rosneft licenses for exploration and production of hydrocarbons within the Central Tatar subsoil area, located on the continental shelf of the Sea of Japan.

The Central Tatar federal subsoil plot is located in the Sea of Japan and covers the area of 29,800 sq. km. Inferred resources based on a quantitative assessment of Russian hydrocarbon resources are: oil - 50.6 mln tonnes, gas - 160.8 bln cubic meters.

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