Rosneft Held a Road Show of the Vostok Oil Project for Suppliers and Contractors

Rosneft held a road show of the Vostok Oil project for foreign suppliers and contractors. Within the framework of the event, 5 meetings were held with representatives of companies supplying works and services, material and technical resources, as well as large contractors from Italy, Germany, China, Korea and Japan. The meetings were also attended by representatives of embassies, relevant departments and business associations.

During the event, top managers of the Company made a general presentation of the Vostok Oil project and certain aspects of its implementation, including industrial safety, labor and environmental protection, carbon management, sustainable development and responsible investment.

During the event, Didier Kasimiro, First Vice President of Rosneft, noted: “The implementation of the Vostok Oil project will create a new oil and gas province in the north of the Krasnoyarsk Territory, which will become a powerful generator of economic growth in Russia. In terms of its production potential, Vostok Oil is comparable to the world’s largest projects, including in the Middle East. It is important that the perimeter of the project includes the already successfully operating fields of the Company ”.  

The resource base of the project is 6.2 billion tons of oil, and the quality of the oil is superior to the reference grades. Within the framework of the project, it is planned to build three airfields, two sea terminals, 15 fishing towns, a railway, 3.6 thousand megawatts of power generation, as well as about 50 ships of various classes.

During the events, the participants got acquainted with the plans of NK Rosneft to implement the project in accordance with the highest environmental standards, including taking into account the Company’s plan for carbon management.

“I would like to emphasize that Vostok Oil will be implemented as a project with a low carbon footprint, which is expected to be about 25% of the same figure for new oil fields,” said Didier Casimiro.

For power supply “Vostok Oil” is supposed to use associated petroleum gas and wind power. The intensity of greenhouse gas emissions under the project will be about 12 kg of CO2-equivalent / boe, which is one of the best indicators in the industry. At the same time, the project oil has a minimum sulfur content (below 0.05%), which is 24 times less than the world average.

One of the key topics of the event was the issue of providing the Vostok Oil project with material and technical resources. During the road show, representatives of the Company discussed with potential counterparties the basic principles of organizing procurement activities and requirements for suppliers.

Based on the results of these meetings, the Company received a positive response from the event participants.

Rosneft will also continue to work on attracting potential suppliers and contractors to the Vostok Oil project. In the near future, the Company plans to hold several more rounds of meetings for suppliers of works and services from a number of European and Middle Eastern countries.