Russian oil company Rosneft starts work on Arctic port project

Russian oil company Rosneft starts work on Arctic port project


Rosneft, a Russian state-owned oil company, has begun work on its Sever Bay terminal in preparation for an immense project to develop a Siberian oil field. 

Located on the Taymyr peninsula on the Kara Sea coast, the port will house Russia’s largest Arctic oil terminal. The Moscow Times reported that the huge scale of the port and the oil project are expected to require some 400,000 workers. 

All construction materials for the remote site are delivered by ship, and so far, 20,000 tons of heavy machinery, living quarters, and communications equipment have been delivered. Rosneft has said that Vostok Oil is environmentally friendly and it has a very small hydrocarbon footprint.

The Moscow Times has said: “The total investment in the Vostok project has been estimated to be $111 billion. 

“It is building 10 ice-class tankers, with strengthened hulls and engines powerful enough to push through ice floes, to transport the oil to Europe and Asia, as well as 770km of pipeline to take the oil to the port.”

The oil installations will reportedly be powered by wind turbines and gas from the field. Work will soon begin with preparing the sea channel and the port site. When complete, the terminal will handle oil production from the vast Vostok field, which is expected to deliver 25 million tonnes of oil by 2025 and 100 million tonnes by 2030.

For more information visit www.rosneft.com

21st June 2021