Oil & Gas
Rosneft & Norilsk Nickel to Cooperate on Vostok Oil Project
Rosneft and Norilsk Nickel signed an agreement during the 24th St. Petersburg International Economic Forum aimed at developing integrated logistics services
Rosneft and Norilsk Nickel signed an agreement during the 24th St. Petersburg International Economic Forum aimed at developing integrated logistics services for the Vostok Oil Project. The agreement provides, among other things, the involvement of transportation branches of this mining and metallurgical company, as well as the joint use of the Norilsk Airport infrastructure. It is planned to create a new service hub for aviation equipment maintenance and additional infrastructure for timely and high-quality servicing of rotational personnel and air carriers involved in the Vostok Oil Project.
In 2020, Rosneft commenced full-field development of Taimyr fields. The implementation of the Vostok Oil Project will help to develop the unique resource potential of the region and meet the tasks set by the President of Russia to enhance cargo traffic along the Northern Sea Route. The Project plans include the construction of ~3.5 GW power generation facilities, three aerodromes, two offshore terminals, 15 accommodation camps, large-scale renovation of the Yenisei River infrastructure.
A competitive advantage of the Vostok Oil Project lies in its close vicinity to the Northern Sea Route. Navigating this route opens the potential for commodities supply in two directions at once: to European and Asian markets. Implementation of the Vostok Oil Project will boost the development of related economic sectors such as machine building, metallurgy, power generation, road construction, ship building, and will have a significant multiplicative effect.