Rosneft Expands Vostok Oil Perimeter to 60 Licensed Areas as Resource Base Reaches 7 Billion Tonnes

MOSCOW, March 20, 2025 — Rosneft, one of the world's largest publicly traded oil companies, has announced an expansion of the perimeter of its flagship Vostok Oil project on the Taymyr Peninsula: in 2024 the number of licensed areas grew from 52 to 60, while the resource base reached 7 billion tonnes of oil under the Russian classification, up from the previously reported 6.5 billion tonnes of premium low-sulphur oil. The disclosure, made in the company's annual report materials and reported by Interfax, confirms the scale of what Rosneft describes as a new oil province of global significance, with production potentially reaching 100 million tonnes per year and the first phase of the project scheduled for 2026.

A resource base upgraded to 7 billion tonnes

Vostok Oil covers the development of Rosneft's oil fields on the Taymyr Peninsula, in the north of Krasnoyarsk Krai and in the Yamalo-Nenets Autonomous Okrug. Until now the project's resource base was stated as 6.5 billion tonnes of premium low-sulphur oil; following the 2024 expansion of the licence perimeter from 52 to 60 areas, it has been revised upward to 7 billion tonnes under the Russian classification.

Exploration and pilot-industrial development in 2024

Throughout 2024 Rosneft continued seismic exploration and drilling across the project area. According to the company's disclosure, 0.7 thousand running kilometres of 2D seismic surveys and 0.6 thousand square kilometres of 3D surveys were completed; four wells were finished with testing, one well is being drilled and three more are under testing.

Pilot-industrial development continues at the Payakhskoye, Ichemminskoye and Baykalovskoye fields: in 2024, drilling footage in production drilling reached 92 thousand metres and 11 production wells were completed. Based on the results of drilling and well testing at the Payakhskoye field, oil produced there is now being transported to the nearby Suzunskoye field.

The northernmost trunk pipeline: Vankor — Payakha — Bukhta Sever

Rosneft continues building the Vankor — Payakha — Bukhta Sever trunk oil pipeline, which will connect the Taymyr fields to the new Arctic port. As of the end of 2024:

• more than 78,000 piles had been installed;
• 359 km of pipeline had been laid to design elevation, including a 119 km double-line section;
• the main line of the Yenisei River crossing had been laid and passed pneumatic pressure testing, with work continuing on the reserve line;
• construction is under way at the oil receiving and delivery point and at the Suzun pumping station.

Port Bukhta Sever takes shape on the Arctic coast

Most of the construction work has been completed on two cargo berths and on the berth for the port fleet at the Bukhta Sever port terminal. Construction of the first oil-loading berth continues, with preparatory work under way for the second. The project team is also building logistics infrastructure and hydraulic engineering structures, carrying out shoreline reinforcement and expanding the coastal and berth infrastructure.

Key facts of the announcement

• Licence perimeter of Vostok Oil in 2024: expanded from 52 to 60 areas.
• Resource base: up to 7 billion tonnes of oil under the Russian classification (previously 6.5 billion tonnes).
• Production potential: up to 100 million tonnes of oil per year.
• First phase of the project: scheduled by Rosneft for 2026.
• Pipeline Vankor — Payakha — Bukhta Sever: 359 km laid by end-2024, including a 119 km double-line section; more than 78,000 piles installed.
• 2024 production drilling: 92 thousand metres of footage, 11 production wells completed.
• Geography: Taymyr Peninsula, northern Krasnoyarsk Krai and the Yamalo-Nenets Autonomous Okrug.

Macro-economic significance

Vostok Oil is one of the largest investment projects in the global oil industry and a cornerstone of Russia's Arctic development strategy. The project creates a new oil province in the High North, drives demand for pipe steel, shipbuilding, energy equipment and construction services across dozens of Russian regions, and underpins future oil exports along the Northern Sea Route. The upgrade of the resource base to 7 billion tonnes extends the long-term production horizon of the project and reinforces its role in the balance of the national oil industry.

Company and contacts

Rosneft (PJSC NK Rosneft) is one of the world's largest publicly traded oil and gas companies; Vostok Oil is its flagship integrated project on the Taymyr Peninsula.

Contacts: the source publication did not disclose direct contact details; the announcement is based on the company's annual report materials as reported by Interfax on March 20, 2025. Official announcements and media materials of the company are published on its website: https://www.rosneft.ru/