Rosneft CEO Igor Sechin has prepared the Vostok Oil project to develop Arctic resources. According to the KPMG professional services network, the project’s prospective resources are 2.6 bln metric tons of hydrocarbons, while the proven oil reserves account for 870 mio metric tons.
The cluster can comprise the deposits of the joint enterprise with BP. The project includes the construction of 5.5K kilometers of pipelines, sea terminals with a capacity of up to 100 mio tons per year, as well as airports, power lines and others. According to KMPG, investments in the project will reach RUR 8.5 trln ($135 bln).
Participants in the Vostok Oil project will be able to receive RUR 2.6 trln in concessions which will provide a positive cash flow of RUR 25 bln ($398 mio) by 2027.
The cluster can comprise the deposits of the joint enterprise with BP. The project includes the construction of 5.5K kilometers of pipelines, sea terminals with a capacity of up to 100 mio tons per year, as well as airports, power lines and others. According to KMPG, investments in the project will reach RUR 8.5 trln ($135 bln).
Participants in the Vostok Oil project will be able to receive RUR 2.6 trln in concessions which will provide a positive cash flow of RUR 25 bln ($398 mio) by 2027.