TMK and Rosneft agree to supply metal products for the Vostok Oil project
LLC Vostok Oil (part of Rosneft Group) and LLC Sinarastroikomplekt (a Sinara Group subsidiary) signed an agreement regarding the supply of metal products and the provision of related services for the Vostok Oil project at the 24th annual St. Petersburg International Economic Forum.
The agreement will ensure an uninterrupted integrated supply of metal products, chiefly tubular products by TMK, metal structures, storage tanks and other auxiliary metal elements, all of which will help the construction and installation work at the Vostok Oil project to run on schedule.
In 2020, Rosneft launched the full-field development of its Taymyr oilfields. Vostok Oil will unlock the unique resource potential of the region. In addition, the project will contribute to increasing cargo traffic along the Northern Sea Route, a task set by the President of Russia.
The project envisages drilling a large well stock, building power generation facilities with an approximate total capacity of 3.5 GW as well as three airfields, two marine terminals and 15 camps, and carrying out a major upgrade of the infrastructure along the Yenisey River. Rosneft is building the North Bay Port oil terminal to facilitate the loading of crude to tankers.