Rosneft begins production drill at Vostok Oil project’s Payakhskoye field

Rosneft has started production drilling at the Payakhskoye field on the Taimyr Peninsula. The Russian energy company plans to drill about 80 wells there by the end of this year.

The Payakhskoye field is part of Rosneft’s Vostok Oil strategic project. Its licence fund consists of 52 subsoil plots, within which 13 fields have been discovered, four of which have already been put into development using the latest technologies.

The project’s resource base of 6.2 billion tonnes of oil has been confirmed by extensive exploration work, detailed reports by world-class experts and international auditors.

These resources are comparable to the largest oil provinces in the Middle East or the US shale formations and are also commensurate with another legendary Russian field,