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Rosneft and Norilsk Nickel agree to cooperate on logistics in pursuance of the Vostok Oil Project

03 June 2021

Rosneft and Norilsk Nickel signed an agreement during the 24th St. Petersburg International Economic Forum aimed at developing integrated logistics services for the Vostok Oil Project.

The document was signed by Igor Sechin, Chief Executive Officer of PJSC Rosneft, and Vladimir Potanin, President of MMC Norilsk Nickel.

The agreement provides, among other things, the involvement of transportation branches of this mining and metallurgical company, as well as the joint use of the Norilsk Airport infrastructure. It is planned to create a new service hub for aviation equipment maintenance and additional infrastructure for timely and high-quality servicing of rotational personnel and air carriers involved in the Vostok Oil Project.

In 2020, Rosneft commenced full-field development of Taimyr fields. The implementation of the Vostok Oil Project will help to develop the unique resource potential of the region and meet the tasks set by the President of Russia to enhance cargo traffic along the Northern Sea Route.

The Project plans include the construction of ~3.5 GW power generation facilities, three aerodromes, two offshore terminals, 15 accommodation camps, large-scale renovation of the Yenisei River infrastructure.

For reference:

The Vostok Oil Project envisages creating tens of thousands of additional jobs.

A competitive advantage of the Vostok Oil Project lies in its close vicinity to the Northern Sea Route. Navigating this route opens the potential for commodities supply in two directions at once: to European and Asian markets.

Implementation of the Vostok Oil Project will boost the development of related economic sectors such as machine building, metallurgy, power generation, road construction, ship building, and will have a significant multiplicative effect.

Rosneft Information Division
 June 3, 2021

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.