The largest premium oil production project was presented at the International RUSSIA EXPO

One of the world's largest investment projects for premium oil production, Vostok Oil, was presented at the International RUSSIA EXPO, which is being held at VDNH in Moscow. The project is being implemented by Rosneft in the north of the Krasnoyarsk region from 2020.

For the region, Vostok Oil is a crucial economic restructuring project that requires concentrated efforts to provide it with labor resources, said the Krasnoyarsk region Governor Mikhail Kotyukov.

"There is a huge need for specialists - both at the time of construction and at the time of commissioning. We need to customize the education system. All its levels will be constantly involved so that the project will be equipped with the most qualified specialists," emphasized the head of the region.

For the Krasnoyarsk region the project is "science, education, infrastructure, budget, and, first of all, the residents' confidence in the prospects for many years", he summarized. 

The resource of the Vostok Oil project exceeds 6.5 billion tons of premium low-sulfur oil with sulfur content from 0.01% to 0.1%, said Andrey Polyakov, Vice President and Chief Geologist of Rosneft, during the presentation of the project. This is confirmed by geological exploration works and reports of international experts. Direct access to the Northern Sea Route gives the shortest access to transportation corridors of developed and developing countries.

Record low production costs and a carbon footprint that is only a quarter of the global average for new developments make Vostok Oil one of the most promising production oil projects in the world. According to industry experts' calculations, the project will generate about 45 trillion rubles for the budget, and the country's annual GDP will increase by 2%. 

 The International RUSSIA EXPO is held on the territory of VDNH in Moscow and will last until April 12, 2024.