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Rosneft Discovers New Oilfield With More Than 20 Million Tonnes Of Oil Reserves

23 July 2020

RN-Vankor, an enterprise of the Rosneft Oil Company production complex, has discovered a new field on the border of the Krasnoyarsk Territory and the Yamalo-Nenets Autonomous District. Recoverable reserves of the Novoognennoye field were registered in the State Reserve Register at more than 20 mln tonnes of oil and about 1 bcm of gas.

The improvement of reserve replacement efficiency is one of the key elements of the Rosneft-2022 Strategy. The Company has undertaken a commitment to replenish at least 100% of the hydrocarbons produced.

The discovery was made as part of the comprehensive exploration programme implementation designed to increase the resource base of Vostok Oil, the largest and most promising project in the global oil and gas industry. At the moment, the resource base of fields comprising Vostok Oil is about 5 billion tonnes of light sweet crude.

Employees of the Company's exploration division carried out 600 linear km of 2D seismic works and successfully completed the works on stimulating the crude flow in an appraisal well with fracking.

Currently, the corporate research and design institutes are compiling the project documentation to complete the exploration of the Novoognennoye field and prepare it for commercial development.

The Vankor project's resource potential has more than doubled since the launch in 2009 due to the large-scale exploration works on the licence areas of the enterprise. The crude reserves have increased by 20%, the gas reserves by 54%.

Apart from the Novoognennoye field, RN-Vankor's geologists previously discovered Baikalovskoye, Ichemminskoye, and Gorchinskoye fields. RN-Vankor performs geological exploration works at 38 licence areas located in the north of the Krasnoyarsk Territory and in the Yamal-Nenets Autonomous District.

Note for Editors:

Vostok Oil is one of the largest projects in the global oil and gas industry.  The project implementation includes the creation of 15 towns to house oilfield workers; two airports; a sea port; some 800 kilometres of line pipes; some 7,000 kilometres of infield pipes; 3,500 kilometres of electrical lines; 2,000 MW of electric power; and about 100,000 new jobs. It will boost the country’s annual GDP by 2%.

Vostok Oil consists of the Vankor cluster, the West-Irkinsky area, the Payakha group of fields (by Neftegazholding), and the East-Taimyr cluster.

Vostok Oil's competitive advantage lies in its proximity to the Northern Sea Route, a unique transport corridor. Its use provides the opportunity to supply crude from the project's fields in two directions at once--to European and Asian markets. The implementation of the project guarantees that the task to increase the cargo traffic on the Northern Sea Route up to 80 million tonnes by 2024 set by the President of the Russian Federation will be achieved.

RN-Vankor LLC, a subsidiary of Rosneft Oil Company, is the operator of the Vankor cluster oil fields--Vankorskoye, Suzunskoye, Tagulskoye, and Lodochnoye--located on the north of Krasnoyarsk Territory.

At Vankor, Rosneft used the cluster method of field development for the first time, which it now applies to the development of other oil and gas provinces. This provides for the increased efficiency of development and significant synergetic effect due to the use of the integrated infrastructure.

Vankor started the new era of promising hydrocarbon-rich fields development in the East Siberia.

July 23, 2020