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Putin Launches N. Russia Oil Field's Operation

Putin Launches N. Russia Oil Field's Commercial Operation

Russian President Vladimir Putin gave a start to the commercial operation launch of a joint Gazprom Neft and Rosneft oil field in northernmost continental Russia via video linkup Wednesday.


                          – Gazprom Chairman of the Management Committee Alexey Miller briefed Putin on the implementation of the largest Arctic project, while Rosneft Chairman of the Management Board Igor Sechin spoke directly from the Vostochno-Messoyakhskoye field. The Vostochno-Messoyakhskoye field's C1 and C2 recoverable reserves are expected to total more than 470 million tonnes of oil and gas condensate as of January, in addition to 188 billion cubic meters of gas, according to Gazprom Neft.


A press kit seen by RIA Novosti stated that investment into Vostochno-Messoyakhskoye would total 256 billion rubles ($3.9 billion) by 2040, with tax revenues estimated at 881 billion rubles ($13.6 billion) over the same period.



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