India will participate in Oil Company Rosneft's project on development of oil fields in the East to the Taimyr Peninsula. By 2030, oil production in the Vostok Oil Arctic Cluster may reach 100 million tons per year. India expects to increase Russian oil supplies via the Vladivostok - Chennai (Madras Port) route.
A large foreign investor in Vostok Oil is required to receive benefits for the project from the Russian government. As part of the Vostok Oil project, it is planned to develop the Lodochnoye, Tagulskoye, and Vankorskoye fields of Rosneft, as well as the Payakh group of oil & gas fields and the Zapadno-Irkinsky subsoil section. To implement the project, the company requested benefits from the budget in the amount of 2.6 trillion rubles, in return promising to invest from 5 trillion to 8.5 trillion rubles of investment. The Ministry of Energy estimated investments in Vostok Oil to be up to 10 trillion rubles.
Supplies of raw materials from Vostok Oil fields are planned to be carried out in 2 directions at once: to the European and Asian markets, therefore, in addition to construction of an oil pipeline and large-scale exploration, Rosneft is interested in building its own fleet for transportation of Arctic oil.
Rosneft plans to sell a minority stake of up to 20% in the Vostok Oil project and attract Japanese investors to the project.
Earlier, Russian President Vladimir Putin and Indian Prime Minister Narendra Modi during a joint visit to the Zvezda shipbuilding complex in Bolshoy Kamen signed a number of bilateral agreements, including the adoption of an action strategy to enhance trade, economic and investment cooperation, and the Ministry of Energy of the Russian Federation and the Ministry of Oil and Natural Gas of India adopted a program to expand cooperation in the oil and gas sector and signed a Memorandum of understanding on the use of natural gas as a gas engine fuel.
Источник:
https://neftegaz.ru/news/partnership/518221-indiya-prinyala-reshenie-ob-uchastie-v-proekte-vostok-oyl/
https://ria.ru/20190904/1558278591.html
