Rosneft to issue a 28.5 bln roubles loan to Vankorneft to finance investment activity

​The Board of Directors of Rosneft has approved the issue of a loan for its affiliate Vankorneft CJSC for 28.473 bln roubles to finance its investment activity.

The loan is issued for 3 years.

Vankorneft CJSC was founded to develop the Vankor oil and gas condensate deposit – the largest deposit among those discovered and put into operation in Russia for the past 25 years.

The deposit is located in the north of the eastern Siberia, in the Turukhansky district of the Krasnoyarsk region, 142 km off Igarka town. Its area is 416.5 sq km. the initial recoverable reserves of the deposit as of Jan 1st 2014 made up 500 mln tons of oil and condensate, 182 bln cubic m of gas.

Today the Vankor cluster is 23 license sites located in the Krasnoyarsk region and partially in the Yamal Nenets Autonomous Area.