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Project vostok2/21/2023 ![]() ![]() These blocks are: Mezeninsky, Severo-Dzhangodsky and Yangodsky. O In mid-December 2019 Rosneft picked up three new license blocks, which the company believes could hold ~ 1.3 billion bbls of oil and ~ 15.8 TCF of gas. The block appears to lie above the Yenisey River and thereby straddles both the Gydan and Taymyr peninsulas, north of the regional centre of Dudinka. This license block was picked up by Rosneft in an auction held in mid-October 2019. These fields are located on the Taymyr Peninsula, north of the regional centre of Dudinka. O Yermak Neftegaz (51% Rosneft, 49% BP) – includes the Baykalovskiy, Posoyskiy and Verkhnekubinskiy blocks. NGH drilled its first production well at Payyakha in summer 2019. NGH hopes to commence commercial oil production at Payyakha in 2024 and it could be producing 190 million bbls of oil by 2030, with that number possibly reaching 365 million bbls per year at some point beyond that. Some question the estimates, given the relatively small number of exploration wells drilled. The field includes the Payyakhskiy, North Payyakhskiy, Peschaniy and Irkinskiy blocks. Russia’s state mineral extraction agency Rosnedra stated in mid-2019 that the resource estimates for the field are as much as 8.8 billion bbls, making it the largest new oil field in post-Soviet history. O The Payyakha field (NGH) – located on the Taymyr Peninsula, north of the regional centre of Dudinka. My sources for the data in the table are generally of two kinds: either one or two quality Russian language oil and gas industry journals (in the case of the fields in the Taymyr Cluster), or Rosneft itself / website (in the case of the Vankor Cluster). The location of the fields, approximate pipeline route and approximate oil export terminal location are shown in the map. The scale of the project is massive, as laid out below, with an equally enormous price tag. This would be a basin-opening project, at least as far as the Taymyr Cluster of fields goes. From here, the oil would be transported on icebreaking oil tankers either westbound or eastbound along the Northern Sea Route to markets (in Europe or Asia). In brief, the project would produce oil from these fields and send it via pipeline northwards (instead of south) to an oil export terminal near Dikson, on the Kara Sea coast. The fields are located generally in two ‘clusters’ – the Vankor Cluster and what I refer to as the Taymyr Cluster. The project centres around a number of oil fields located in the northern part of East Siberia’s Krasnoyarskiy Kray (Territory), all of which lie north of the Arctic Circle. The project is being led by Rosneft, in a partnership with Neftegazholding (NGH is an independent oil company run by Eduard Khudaynatov, a former Rosneft executive). The Vostok (East) Oil Project is receiving considerable attention in industry media due to its size (vast resource volumes and price tag), the extent of lobbying by its proponents for tax breaks and its remote (basin-opening) location, amongst other attributes. ![]()
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