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New Development Stage for Vankorneft

21 November 2013

On November 8th, 2013, Rosneft’s Board of Directors approved Vankorneft as an operator of three business projects: Lodochnoye, Suzunskoye and Tagulskoye fields, as well as construction of a 150-megawatt gas-turbine thermal power plant for their power supply.

After the acquisition of TNK-BP assets which include the above-mentioned fields, Rosneft made a decision to consider their joint development with Vankorneft to maximize synergies. Based on Vankorneft, a joint oilfields control circuit will enable to consolidate efforts in the area of exploration, production, construction of respective infrastructure, logistics, staff management etc. Successfully tested at Vankor, the technology solutions are to be applied for the new oilfields of the Vankor Cluster. These are, in particular, high-degree readiness technology modules used in construction as well as a development scheme based on drilling high-tech horizontal-bore wells.

The fields’ integration will allow to increase Rosneft’s resource base in the region by more than 350 mln tonnes of crude oil. The development of these oilfields has become possible due to the infrastructure created by Rosneft at the Vankor Field. The integral development of the Vankor Cluster project will make it possible to achieve a ca $2 bln-worth synergetic effect.

The fields’ development will require significant financial, technological and human resources. Approximately RUR 92.1 bln are required in 2013-2015 for development of the above-mentioned fields. The unique experience gained during the Vankor Field launch will help optimize costs and efficiently apply the technologies accumulated in the process of Suzunskoye, Tagulskoye and Lodochnoye fields development. These fields’ resources are to provide load for the ESPO pipeline over the long run as well as contribute to the development of Russia’s East regions by means of providing new jobs in Krasnoyarsk Territory, attracting local businesses for subcontracts etc.

In the area of oil production, Rosneft intends to achieve maximum synergy and secure constant production growth within the careful field development model.

Inclusive of the Suzunskoye, Tagulskoye and Lodochnoye fields, Vankorneft is planning to reach the plateau production level of 25 mln tonnes of oil by the year 2019.

Notes for Editors:

The new fields are located in the Turukhansk District of Krasnoyarsk Territory north of the Arctic Circle 1.7 thousand kilometers from the city of Krasnoyarsk. Lodochnoye Field is located 130 kilometers west of Igarka river. The Vankor-Purpe pipeline is located 30 kilometers from the field. The neighboring Suzunskoye and Tagulskoye fields are located in the Bolshekhetsk Lowland.


Rosneft Information Division
November 21, 2013

Keywords: Board of Directors, New Development, Vankorneft