Russia’s Rosneft investment in Far East to reach 79 billion rubles by 2015

April 25, 2014

Investments of Russian oil major company Rosneft will double to reach 79 billion rubles ($2.2 billion) in the Far Eastern Federal District by 2015, Rosneft President Igor Sechin said at a meeting of the governmental commission on socio-economic development of the Far East which Prime Minister Dmitry Medvedev is holding in the Siberian city of Khabarovsk on April 25, ITAR-TASS has reported.

“Investments of the company in the Far Eastern Federal District have increased from 19 billion rubles (around $532.4 million) to 37 billion rubles (around $1 billion) from 2011 to 2013. By 2015 they will double again to 79 billion rubles,” Sechin said, adding that “in comparable prices, the annual growth will make around 25-30% from 2012 to 2015."

Rosneft can produce at east Siberia’s Vankor fields 31 million tons of oil and 8 billion cubic meters of gas by 2020, Sechin said .

Rosneft’s resource potential on the continental shelf in northern seas makes 9 billion tons of oil and around 9 trillion cubic meters of gas, Sechin said.

Rosneft's Investments will make 112 billion rubles (around $3.1billion) in geological prospecting on the continental shelf of the Far East by 2018, Sechin added.

Copyright: ITAR-TASS, 2014