Russia's state petroleum company Rosneft plans to build a port with a maximum annual production capacity of 115 million tons for the Vostok petroleum project in Russia's arctic region, foreign media reported on May 13.
The Vostok Petroleum project could supply 25 million tons of oil in 2024, 50 million tons in 2027 and 115 million tons by 2030, Rosneft said in a statement on Tuesday.
Vostok will partner with Rosneft's projects in northern Russia, including the Lodochnoye, Tagulskoye and Suzunskoye fields, as well as other projects, including the joint venture project Ermak Neftegaz with BP.
The project will need to build pipelines, roads and other infrastructure. Crude oil is expected to be transported to Asia via the north sea route.