Rosneft to spend $1.6 billion on Russia’s Far East | Russia Beyond The Headlines

Rosneft to spend $1.6 billion on Russia’s Far East | Russia Beyond The Headlines:

"Rosneft is planning to spend around 52 billion rubles ($1.6 billion) in 2013 on Far East development programs in the company’s key operating areas, Rosneft head Igor Sechin said during a videoconference led by Russian President Vladimir Putin, who had arrived in Yuzhno-Sakhalinsk. Sechin was, at the time, on board Orlan — a drilling platform located in the Sea of Okhotsk.
According to the Prime news agency, Sechin specified that 27 billion rubles would be spent on oil exploration and production, 23 billion rubles on refining and upgrading the Komsomolsk Oil Refinery, and around 2 billion rubles on establishing oil product supplies.
According to Rosneft president, Rosneft’s investments in Eastern Siberia and the Far East could exceed 1 trillion rubles ($30 billion) over the next five years, under a conservative scenario."

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