Vostok Oil is one of the most ecological projects. Execution of this Project secures delivery of the target set by the President of Russia on increasing the freight traffic of the Northern Sea Route to 80 million tons by 2024. A competitive advantage of the Project lies in its close vicinity to the Northern Sea Route. The resource base of the project exceeds 6.5 billion tons of premium-quality sweet crude oil. Vostok Oil is the largest investment project of the global oil and gas industry being implemented in the north of Krasnoyarsk Territory. To effectively implement the agreement, the parties intend to establish joint working groups and develop a detailed action plan aimed to develop the R&D and operating capacity of Rosneft. The Company is also interested in the data related to the definition of the Russian forests capacity to absorb carbon and control of the fire environment, which can be used within the forest-and-climate projects presented by Rosneft during SPIEF-2022. The Cooperation Agreement with Roscosmos implies research, development and engineering activities that are required to implement the projects in industrial safety, logistics and freight forwarding, providing communications and Broad Band Internet for the remotest assets of the Company which is especially important for the Vostok Oil project in the north of Krasnoyarsk Territory. As part of the cooperation, Earth remote sensing services are of certain interest as they can provide all-weather imaging of the territories for hydrometeorological, geotechnical, geodynamical and environmental monitoring. Cooperation with Roscosmos expands the Rosneft capabilities in further study and monitoring of the country's northern regions to implement the unique high-tech Vostok Oil project. Cooperation is also supposed in the development of distant methods of Earth study and observation, detection of GHG emissions, including methane.
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The document envisages cooperation in such areas as geotechnical monitoring of facilities, and also signal, TV and radio communications support for the operating sites of Rosneft. Petersburg International Economic Forum Rosneft and the Russian Federal Space Agency (Roscosmos) entered into a cooperation agreement suggesting to apply satellite systems in the operations of the Company. Rosneft, Energopole and Fossil Trading were not immediately available for comment.Rosneft Oil : and the Russian Federal Space Agency enter into a Cooperation Agreementĭuring the XXVI St. It wasn’t clear, however, what was the relationship between Rosneft, Energopole and Fossil Trading at the time of the transaction with Vitol. Rosneft said earlier this year that Energopole was its wholy-owned subsidiary. Bakken oil region over the past decade.ĭubai-based Fossil Trading is the parent company of Geneva-based Energopole SA, according to the website of Energopole. Rosneft is leading the Vostok project that is comparable in size with the exploration of West Siberia in the 1970s or the U.S. The sale follows a divestment by rival trader Trafigura of a 10% stake in Vostok earlier this year following Western-led sanctions on Russia for its invasion of Ukraine, which Moscow calls a “special military operation”. Vitol had bought 5% of Vostok with its partner, Mercantile & Maritime Group, in 2021 for $4 billion. It didn’t disclose other details of the transaction. LONDON – Global commodities trader Vitol has sold its interest in a giant Russian project Vostok Oil, led by the Kremlin-controlled energy major Rosneft, to Dubai-based trader Fossil Trading, Vitol said on Friday.
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