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Rosneft holds a road show of the Vostok Oil Project for vendors and contractors

07 June 2021

Rosneft held a roadshow of the Vostok Oil Project for foreign vendors and contractors. Within the event, 5 meetings were held with the representatives of providers of works, services, materials and equipment, as well as major contractors from Italy, Germany, China, Korea, and Japan. The meetings were attended by the representatives of the embassies, relevant agencies and business associations.

During the road show, senior executives of the Company made a general presentation of the Vostok Oil Project and certain aspects of its implementation, including HSE, carbon management, sustainable development and ESG.

Didier Casimiro, First Vice President of Rosneft, noted during the road show: "The implementation of the Vostok Oil Project will create a new oil and gas province in the north of Kransoyarsk Territory, and become a powerful growth driver for the Russian Economy. Based on its production potential, Vostok Oil is comparable to the global major projects, including those in the Middle East. It is important to note that the Project includes the Company’s already well functioning assets.” 

The resource base of the Project is 6.2 bln tons of oil, and its quality exceeds that of benchmark oil grades. The Project’s scope includes the construction of 3 airports, 2 marine terminals, 15 field camps, a railway road and power generation facilities for 3.6 GW, as well as 50 vessels of various classes.

In the course of the events, participants became aware of Rosneft’s plans to implement the Project in accordance with the highest environmental standards, particularly, with the Company's Carbon Management Plan. "I would like to emphasize that Vostok Oil will be implemented as a project with a low carbon footprint; this indicator is expected to be as low as about 25% of other greenfields' footprint," noted Didier Casimiro.

To ensure power supply of Vostok Oil, it is planned to use associated petroleum gas and wind power generation. The Project's greenhouse gas emissions intensity will be about 12 kg of CO2 equivalent/boe, which is one of the best indicators across the industry. At the same time, oil from this Project has minimum sulfur content (below 0.05%), which is 24-fold lower than the global average.

One of the key themes of the event was providing the Vostok Oil Project with materials and technical resources. During the road show, representatives of the Company discussed with potential counterparts main principles of procurement management and requirements for suppliers.

Following the meetings, the Company received a positive feedback from the participants of the event.

Rosneft will also continue its efforts aimed at engaging potential vendors and contractors in the implementation of the Vostok Oil Project.In the near future, the Company intends to hold several more rounds of meetings targeting providers of works and services from a number of European and Middle East countries.

Information Division
June 7, 2021

Keywords: Corporate Governance 2021