“Now Russia has a powerful resource base” – Kommersant FM – Kommersant
On July 26, the Moscow Exchange index rose by 2.9%. One of the gains were oil companies: shares of LUKOIL grew by 4%, Rosneft – by 3%. In general, fuel prices are declining, but in the oil market, the problem remains underinvestment. What happens to the investment processes of Russian oil companies? Oleg Bogdanov talked about this economic observer for Kommersant FM with Valery Andrianov, an associate professor at the Financial University under the Government of the Russian Federation, an expert at the InfoTEK analytical center.
— When Joe Biden visited Saudi Arabia, it was explained to him that underinvestment led to the fact that only by 2027 Aramco could increase serious production. We have a very good and powerful project called Vostok Oil, which is represented by Rosneft. The following question arises: how are things going with our investments in the oil administration?
– Russia, in particular, the Rosneft company, unlike most Western majors, still thought about the prospects, about the need to develop production projects. The true application of this is precisely the Vostok Oil project. Western Siberia is gradually depleted, and therefore it is quite a logical decision to find new regions, to look for new reserves. And they were found in Taimyr.
Therefore, Russia now has a powerful resource base, which in the near future can serve as an oil reserve for energy supply not only to our country, but also to Europe, and due to the need of the whole world, to those countries that want to buy our oil.
This Rosneft project is aimed at, let’s say, saving the world from the coming energy famine, in order to support it. The fact that we really thought about investments, did not refuse them, but just acted in this investment.
– Probably, I remember, somewhere by 2030 it is supposed to be at the level of 100 million tons of oil. It is clear that infrastructure and equipment are needed. How are these questions accepted in the conditions?
— Currently, development drilling has begun in the vicinity of the Payakhskoye field. As we know, there are several fields in the Vostok-Oil perimeter, including production at Vankor for quite a long time, and gradually new developments are being carried out in the course of implementation. At the same time, Rosneft initially made a proposal that this project should be implemented based on Russian technologies. Contracts have been signed with dozens, if not hundreds, of Russian enterprises that take over the complete equipment of this project, construction from drilling rigs and installation of KamAZ vehicles, helicopters and so on – the entire line of equipment that is necessary for the implementation of such large projects.
If a few years ago many kept saying why the company spends money there, why equipment is not purchased abroad, now we see perfectly well why. Because this project must be truly independent of external discrimination and rely on Russian resources. First, it gives us the possibility of unforeseen moods of our “Western partners” who are constantly gathering in Congress. And secondly, it gives a powerful impetus to the development of additional additional products that consume a huge range of products for this project.
– It is clear that there will be athletes in the region, but who will be partners? Are there any foreign countries with whom Rosneft cooperates fruitfully?
– The advantage of this project is that the supply can go not only to Europe, but also to the eastern adaptation. Therefore, of course, Arab countries, Qatar and others became interested in this project. Vostok Oil is very attractive to large foreign companies, to those that do not develop from the whims of their government; who do not make a decision against Russia, but are really interested in receiving oil from the Russian Federation on a long-term basis and thanks to this they significantly expand their benefits, supply the citizens of their country and so progressively transport.
— It has long been known that we follow our client in terms of the energy business. rapid growth in Asia, it is the epicenter of the world economy. I understand that we are already ahead of Saudi Arabia in terms of oil supplies to China. And the entire eastern region is probably our priority. Do you think this version will develop the movement or will we ever find a common language with the Western participants?
– Of course, everything will be from Western partners, from their will and desire. Either they continue to drive themselves into a trap and doom themselves to energy “hunger”, or they still come to their senses and begin to regulate with Russia on an equal footing. Vostok Oil allows us to further strengthen our eastern vector, since it is not tied to a pipe that has a limited capacity. Such projects make it possible to deliver large enough volumes on ice-class tankers along the Northern Sea Route in China and other countries of the Asia-Pacific region, and ultimately to anywhere in the world, be it Africa, Latin America, and so on. That is, the geography of this project is practically unlimited, and this is the main advantage.