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Rosneft begins construction of main infrastructure facilities for Vostok Oil project — CEO

It is planned to start production of hydrocarbons at the Vostok Oil project in 2024 and bring it up to 100 mln tonnes per year at the beginning of the next decade

MOSCOW, August 13. /TASS/. Rosneft began construction of the main infrastructure facilities at the Vostok Oil project in the Krasnoyarsk region, CEO of Rosneft Igor Sechin said on Friday.

"We are focused on implementation of the major projects with a high level of efficiency and quality reserves. In the second quarter, two production lines were launched at the Rospan gas project, which supported a significant increase in production. As a result, the production unit became the largest asset of the Company in terms of the gas production. As part of implementation of the flagship Vostok Oil project in the Krasnoyarsk territory, Rosneft launched construction of the main infrastructure facilities," he was quoted by the company’s press service.

The Vostok Oil project in Taimyr includes fields of the Vankor group that are already being developed and new fields in the north of the Krasnoyarsk region. It is planned to start production of hydrocarbons at the Vostok Oil project in 2024 and bring it up to 100 mln tonnes per year at the beginning of the next decade. In December 2020, Rosneft closed the deal to sell 10% in Vostok Oil to Swiss trader Trafigura for 7 bln euro; in June, it agreed to sell a 5% stake in the project to a consortium of Vitol and Mercantile & Maritime.

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