Russia’s government revealed its plans on the development of oilfields situated in Eastern Siberia. By 2035, more than 1 trillion rubles will have been allocated for those needs. The large-scale program was presented by Arkady Dvorkovich, the Deputy Prime Minister of the Russian Federation at the 21st World Petroleum Congress in Moscow.
Speaking to journalists, businessmen, and spokesmen for the largest foreign corporations, the Russian politician pointed out that such infrastructure projects will help to step up the oil deliveries from Russia to the neighboring countries in Southeast Asia. According to experts, the amount of exports might advance to 23% from the total oil exports compared to the current level of 12%.
In particular, such oilfields like Verkhnechon, Talakan, Vankor and some others were tabbed for these purposes. Besides, the Russian deputy prime minister stated the intentions of constructing a modern crude oil transportation system. Where will this money come from have not been specified yet. However, recently, at a meeting of the presidential fuel and energy commission Rosneft’s Chief Executive Officer Igor Sechin made a proposal to finance the construction of Eastern Siberia-Pacific Ocean oil pipeline system with the help of pension savings of the Russians.
Thus, both governmental and non-governmental pension funds are likely to be involved. In case the government approves the Rosneft’s head draft, another state-owned project will come to life thanks to the money of people of Russia. Poor pensioners will contribute to the welfare of their home land.