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Rosneft plans to invest in exploration of the continental shelf of the Far East more than $1.9 bln

Rosneft reported, that despite the sanctions and the current situation, fulfil its obligations for the development of the Far Easters shelf in full and ahead of schedule.

Rosneft plans to invest in exploration of the continental shelf of the Far East more than $1.9 bln


Rosneft´s CEO Igor Sechin reported on September 1, 2016, at the launching ceremony of the Zvezda shipyard’s 1st phase, that the company, despite the sanctions and the current situation, fulfil its obligations for the development of the Far Easters shelf in full and ahead of schedule.

 

The volume of foreign investments attracted by Rosneft for its projects in the Russian Far East exceeded $22.98 bln, said Rosneft´s CEO. He added that by 2021 Rosneft plans to invest in exploration of the continental shelf of the Far East more than $1.9 bln.

 

Igor Sechin reported about Rosneft´s operations in the region. «Our contribution to the GDP of the region amounts to 25%. More than 35% of all our investments are being made in the East of the Russia. Our investments, planned for the years to come, not only in the oil and gas area, but also in related sectors will increase Rosneft contribution to the growth of the local gross domestic product of the region up to 50%. In absolute numbers foreign investments, attracted in Rosneft project in the East of Russia exceeded 1.5 trillion rubles», he said.

 

A number of documents were signed to establish joint ventures with the participation of Rosneft, Far Eastern Shipbuilding and Ship Repair Center (FESRC) and Damen, Keppel, and MH Wirth.

The Zvezda shipyard in the Russian Far will also team up with General Electric to manufacture ship equipment, said Igor Sechin . «We will design ice class vessels with Damen of the Netherlands, oil platforms with Keppel of Singapore and ship equipment with General Electric», he noted.

 

Rosneft also signed with Exxon Neftegas Limited a Joint Protocol on joint review of the new shipyard’s technical capability and development plans. By signing the Joint Protocol, Rosneft begins implementation its intention to develop a manufacturing facility on the basis of the Zvezda for potentially participating in the renovation of oil tankers fleet of Sakhalin-1 oil and gas Project.

 

Addressing a ceremony dedicated to the commissioning of phase 1 of the Zvezda Shipyard, Sechin also said that South Korea’s Hyundai and Rosneft would sign a designing and engineering supervision contract at the Eastern Economic Forum to build the world’s first tankers burning natural-gas-based motor fuel at the shipyard.

The 2016 Eastern Economic Forum will be held in Russia's Vladivostok on September 2-3.

Source : Neftegaz.RU