Rosneft Eyes Gas Opportunities in East Siberia

Rosneft wants to step up gas production and become the second largest gas company in Russia.

‘Over the past two years Rosneft has created a sizeable gas business to become a number three gas producer in Russia. It has tripled gas production, arranged its efficient marketing, and put together a competitive portfolio of gas projects. We see a good potential to become Russia’s number two gas producer in the medium term’ reads a note released on Tuesday.

The company said it is working to build a long-term supply chain, while keeping high level of production in established production areas and stepping up efforts to tap resources in East Siberia. 

“In the next few years we are planning to maintain production and efficiently bring on stream more reserves in our traditional regions of operation (West Siberia, the Far East, the Volga-Urals region) as well as launching a number of new projects in East Siberia” Igor Sechin commented.  

The company said it will also develop unconventional resources, mainly offshore and tight reserves. Rosneft estimates its offshore hydrocarbon resources at over 46 billion tons of oil equivalent.