Rosneft Expects Another Partner To Join Vostok Oil Project By End-2021

MOSCOW (UrduPoint News / Sputnik - 14th May, 2021) Russian oil giant Rosneft expects another partner to enter the Vostok Oil project by the end of 2021, a top manager of the company said during a conference call.

"We are negotiating with a number of parties, and of course, by the end of the year, in fact, I think, maybe even faster ... one more party will join the project," he said.

Rosneft plans to form a new oil and gas province on the Taimyr Peninsula as part of the Vostok Oil project. Its proven liquid hydrocarbon resource base is 6 billion tonnes.

The project is expected to combine the largest fields in the Vankor cluster (Vankorskoye, Suzunskoye, Tagulskoye and Lodochnoye), as well as the Payakha group of fields and the Zapadno-Irkinsky area. For the needs of the project, it is planned to build a port in the Sever Bay, from which oil is planned to be exported along the Northern Sea Route.