Page 12 - FSUOGM Week 49 2021

FSUOGM ENERGY TRANSITION FSUOGM

Rosneft to look at powering

Vostok Oil with wind

RUSSIA RUSSIAN state oil giant Rosneft has teamed up crude found at the Vostok Oil fields also com-
with Chinese companies to look at the potential prises a very low sulphur content of 0.01-0.04%,
Rosneft is looking to for powering its giant Vostok Oil project in the which not only makes it more commercially
make Vostok Oil as Russian Arctic with wind energy. valuable but also results in fewer emissions
clean as possible. Rosneft and other Russian oil and gas majors downstream, as less sulphur has to be removed
have followed their international counterparts at refineries.
in taking steps to reduce emissions from their Analysts have likened Vostok Oil’s scope to
activities, as ESG concerns move higher up in the the development of the Western Siberian oil
priority lists of investors. Several are looking at basin in the 1970s and the development of the
ways of cutting their Scope 2 emissions by using Bakken tight oil play in the US over the past dec-
renewables to power their production facilities ade. Rosneft estimates that Vostok Oil will be
rather than gas or diesel. flowing 1mn bpd of oil by 2027 and as much as
Rosneft is looking to make Vostok Oil as 2mn bpd in 2030. But the company and its part-
clean as possible. Consisting of 13 fields and 52 ners are yet to take a final investment decision
licences, the megaproject on the Taymyr Pen- (FID) on development.
insula is estimated to hold some 6bn tonnes Rosneft is seeking partners to take devel-
(44bn barrels) of liquid hydrocarbon reserves opment forward. It closed a deal in October to
and large amounts of natural gas. Rosneft CEO bring on board Vitol and Mercantile & Maritime
Igor Sechin has suggested that the project could Energy as investors with a combined 5% interest.
one day produce in excess of 2mn barrels per day That followed its divestment of a 10% stake to
(bpd) of oil and as much as 50mn tonnes per year Trafigura last December.
(tpy) of LNG, driving the company’s growth for Rosneft agreed on the wind study at the
years to come. Russian-Chinese Energy Business Forum in
Rosneft said it would study with Chinese St Petersburg, where the company also signed
partners the design, construction and com- a licence agreement to provide China’s CNPC
missioning of a wind farm at Vostok Oil, which with its RN-GRID hydraulic fracturing technol-
would have an initial capacity of 25-40 MW. The ogy. ™

P12 www. NEWSBASE .com Week 49 08•December•2021