Page 17 - FSUOGM Week 02 2021

FSUOGM PROJECTS & COMPANIES FSUOGM

Rosneft to reroute Vankor oil

supplies to Arctic terminal

RUSSIA RUSSIAN state oil major Rosneft is preparing to 2015 but by last year had fallen to only 11mn
reroute oil supplies from its Vankor oilfield to an tonnes (220,000 bpd). Rosneft has a 50.1%
The Vankor fields export terminal on the Taymyr Peninsula, which interest in Vankor, while the remaining share is
currently pump oil into it plans to build as part of its Vostok Oil project. divided among state-owned Indian companies.
Transneft's system. Vostok Oil consists of a cluster of oilfields Located near to Vankor are the Suzunskoye,
which Rosneft says could produce 1mn barrels Tagulskoye and Lodochnoye fields. But Rosneft
per day (bpd) for sea-bound export by 2027. The has delayed their full-scale development because
company has incorporated Vankor and its satel- of OPEC+ restrictions since 2017.
lite fields in Vostok Oil, even though the deposits
are already connected to Russia’s national pipe- Redirecting all the Vankor fields’ oil to Tay-
line system. myr would cost Russian national pipeline oper-
Rosneft has announced a tender for engineer- ator Transneft some RUB25bn ($337mn) in
ing surveys for Vostok Oil’s first phase, Russia’s annual core earnings, according to Kommersant.
Kommersant newspaper reported on January Vankor’s crude is currently delivered to Asia-Pa-
12. The tender is for engineering surveys for the cific markets via the Eastern Siberia – Pacific
construction of two berths on the left and right Ocean (ESPO) pipeline.
banks of the Yenisei river, where Rosneft plans Besides the Vankor fields, Vostok Oil also
to build Vostok Oil’s export terminal, as well as comprises the Payakha fields and other assets.
for the reversal of the flow of an existing pipeline Rosneft bought the Payakha assets last month
that carries Vankor’s crude. from independent producer Neftegazholding
The Vankor field was brought on stream in for an undisclosed sum. It also closed the sale of
2009 and its production is now in decline. Out- a 10% stake in Vostok Oil to commodities trader
put peaked at 22mn tonnes (440,000 bpd) in Trafigura, in a deal thought to be worth $7bn. ™

Rosneft makes large

gas find in Yakutia

RUSSIA RUSSIA’S Rosneft and its partners have discov- tender for production drilling in March. The
ered a large gas and condensate field in the Far field’s oil is pumped to Asia-Pacific markets via
The field is estimated Eastern Yakutia region, it said on January 12. the Eastern Siberia – Pacific Ocean (ESPO) pipe-
to be 75b cubic metres A well drilled at the Nizhnedzherbinsky line. But its gas is undeveloped, owing to limited
in size. licence area has identified a field containing local demand and infrastructure.
more than 75bn cubic metres of gas and 1.4mn TYNGD owns 10 licences in total, containing
tonnes of condensate, Rosneft said. The state- 66 bcm in proven and probable reserves, accord-
owned firm said it had confirmed the field’s ing to a 2018 appraisal by DeGolyer & Mac-
“high productivity”, adding there was “signifi- Naughton. But its gas production is minimal.
cant potential” for further exploration. Gas development in Russia’s eastern regions
The field has been named after Ivan Kulber- has also been hindered by Gazprom’s monopoly
tinov, a famous Red Army sniper that fought over pipeline exports via the Power of Siberia
in the Second World War and was born in line. Rosneft and others have lobbied for years to
Yakutia. end this monopoly, without success.
The Nizhnedzherbinsky licence is operated Russia’s government argues that liberalis-
by Taas-Yuryakh Neftegazdobycha (TYNGD), ing exports would result in Russian producers
a joint venture between Rosneft (50.1%), BP competing with each other in foreign markets,
(20%) and an Indian consortium of Oil India, driving down prices. This is already happening
Indian Oil and Bharat PetroResources (29.9%). in Europe, however, where Gazprom’s pipe-
TYNGD’s main asset is the Srednetuobin- line shipments are sold in the same markets as
skoye oilfield in Yakutia, where Rosneft held a Novatek’s LNG. ™

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