Russia’s Vankorneft to Operate New Rosneft Projects

Rosneft board has approved Vankorneft as the operator of the projects to develop the Lodochnoye, Suzunskoye and Tagulskoye fields and build a 150 MW power station to supply the fields with power.

After Rosneft acquired TNK-BP’s assets including those fields, it was decided to develop them jointly with Vankorneft. Single management on the basis of Vankorneft will make it possible to consolidate efforts in geological exploration, production, infrastructure construction, logistics, personnel solutions etc. Vankor’s technological achievements will also be used, such as ready-made solutions for construction and highly technological horizontal wells drilling.

Integration will allow Rosneft to increase its resources in the region by more than 350mn tons of oil. It has become possible to start development of the new fields thanks to the infrastructure built by Rosneft at the Vankorskoye field. Synergy effect from the merger will save some USD 2bn.

Copyright: Energyland, 2013