Russia Planning Biggest Oil Project in History of World – $155 Billion Investment, 15 New Towns, Airports, Ports, 100K Jobs

Two close companions with decades-long cooperation on Tuesday sat down for a talk in the Kremlin and it was the Arctic that was on top of their agenda. Igor Sechin has worked with Vladimir Putin since the 1990s and is considered among the most powerful and influential men in the country.
This time, it was the Vostok Oil project that was the key issue of discussion.
Tundra oil
Igor Sechin and his state-owned oil company Rosneft intends to develop large oil reserves on the wide-stretched tundra lands of northern Ural and export it through a projected seaport in the Taymyr Peninsula.

It will be the biggest project in modern-day global oil industry, Sechin underlined to Putin.
According to the Rosneft leader, the Vostok Oil will include the development of 15 new industry towns, two airports, a seaport, about 800 km of new pipelines, 3500 km of new electricity lines and 2000 MW of electric power capacity.
It will require 100,000 new jobs and lead to a 2 percent annual hike in national GDP, he explains.
To Arctic coast
The project is based on the development of several oil fields, including at least three in the Vankor area. The new pipelines and the projected seaport terminal will …

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