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Transport infrastructures in Yakutia's Arctic zone requires 7 billion rubles

The republic's Anabar district is the place of a promising West-Anabar license area with oil reserves of 290 million cubic meters, and of 16.3 bcm of natural gas

YAKUTSK, January 21. /TASS/. New transport infrastructures in Yakutia's Arctic zone to be used for transportation of oil along the Northern Sea Route requires financing of 7.1 billion rubles ($118 million), the republic’s first deputy minister of industry and geology, Vasily Zakharov told TASS on Saturday.

The republic's Anabar district is the place of a promising West-Anabar license area with oil reserves of 290 million cubic meters, and of 16.3 bcm of natural gas. The maximum oil production is estimated at 12 million tons a year. The license for the deposit belongs to the Yakut Tuymaada-Neft Company, which has completed the feasibility works and is looking for a strategic investor to implement further the project.

TASS reported earlier that Yakutia's head Yegor Borisov had invited Rosneft to be the project's investor.

Most produced oil will be exported along the Northern Sea Route - for that it would be necessary to build an oil pipeline to the Anabar Bay, including an oil filling terminal, and further on the oil will be delivered to Japan by tankers.

The West-Anabar license project was among priority projects presented earlier at two East Economic Forums in Vladivostok.

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