Rosneft: Receives 60 Proposals for Cooperation on the Vostok Oil Project

Rosneft has completed a series of roadshows for the Vostok Oil project for foreign suppliers and contractors. The company received about 60 proposals for cooperation.

As part of the event, Rosneft held 16 meetings with major suppliers of work and services and engineering companies from 15 countries in Europe, Asia and the Middle East. The meetings were also attended by representatives of embassies, relevant departments and business associations.

In total, more than 760 people from 360 foreign organizations took part in the series of roadshows of the Vostok Oil project, the press service of the company reported.

The resource base of the project is over 6 billion tons of premium low-sulfur oil. The high quality feedstock minimizes the need for separate sulfur processing units at the refinery, which also significantly reduces project greenhouse gas emissions. For power supply “Vostok Oil” it is planned to use mainly associated petroleum gas, as well as wind power.

It is planned that by 2030 oil production at Vostok Oil will amount to about 100 million tons. The logistic advantage of the project is the ability to supply raw materials from the fields in two directions at once – to the European and Asian markets.

The Vostok Oil project includes 52 license areas, within which 13 oil and gas fields are located, including the Vankorskoye, Suzunskoye, Tagulskoye, Lodochnoye fields, as well as new promising fields with unique reserves: Payakhskoye and Zapadno-Irkinskoye.

At the end of 2020, 10% in the Vostok Oil project was acquired by a large international trader Trafigura. In October, a consortium of companies led by Vitol acquired 5% in the project.