MOSCOW (MRC) -- Russian oil giant Rosneft is to pump nearly USD3 billion into developing a trio of oilfields in East Siberia, said Upstreamonline.
The Moscow-based behemoth is to spend 92 billion rubles (USD2.79 billion) on the three fields by 2015, Reuters cited a company official as saying on Thursday.
The field developments are set to feed into the East Siberia-Pacific Ocean (ESPO) pipeline feeding Asian markets.
The three fields are expected to add to production from the Vankor field. Although the report did not confirm the fields set for the development cash, it pointed to the Suzun, Tagul and Lodochnoye fields as seen by Rosneft as contributing flows to the ESPO.
As MRC wrote before, Rosneft and Mitsui have signed an agreement to jointly develop the massive Far East Petrochemical Company (FEPCO) project. The deal was signed by Rosneft president Igor Sechin and by Shintaro Ambe, representative director of Mitsui & Co., in the presence of the Russian President Vladimir Putin and Prime Minister of Japan Shinzo Abe.
Rosneft became Russia's largest publicly traded oil company in March 2013 after the USD55 billion takeover of TNK-BP, which was Russia’s third-largest oil producer at the time.
MRC