Vladivostok (Russia), Sep 3 (FN Bureau) Indian Union Minister for Petroleum and Natural Gas Hardeep Puri, who is in the Russian far eastern port city of Vladivostok, met the CEO of Russian oil major Rosneft during which they discussed the massive Arctic oil project of Vostok Oil. Puri met with Igor Sechin, CEO of Rosneft, during which the latter made a presentation of Vostok Oil, Rosneft’s flagship project implemented in the North Krasnoyarsk Territory, in Siberia. Sechin took the Indian Minister through key parameters of the project and its competitive strengths, said a press release from Rosneft.
“Vostok Oil is one of the most promising petroleum projects in the world. It comprises 52 license areas with 13 oil and gas fields located within their boundaries, including those developed with participation of the Indian partners: Vankor, Suzun, Tagul, and Lodochnoe fields, and also some new promising and unique in terms of their reserves fields: Payakhskoe and Zapadno-Irkinskoe.” According to the release, the “resource base of the project exceeds 6 billion tons of premium-quality sweet crude notable for its extraordinary low sulphur content of 0.01-0.04%.” “The high quality of raw products makes it unnecessary to install certain plants at refineries thus allowing to significantly reduce greenhouse emissions of the project.
The Vostok Oil carbon footprint makes up 25% vs traditional parameters characteristic of major petroleum projects,” it said. By 2033, the level of production within the framework of the project is planned at the level of 115 million tons of oil. The logistic advantage of Vostok Oil is the ability to supply raw materials from the fields in two directions at once – to the European and Asian markets, it said.