Transneft to invest 45 bln roubles in the expansion of the ESPO up to 80 mln tons a year by 2020

​Transneft plans to invest 45 bln roubles into the construction of the additional infrastructure of ESPO until 2020. The construction is necessary for the expansion of ESPO-1 up to 80 mln tons and ESPO-2 up to 50 mln tons, head of the company’s strategic development department, R. Mingazetdinov, said.

“The Government set a goal for us to expand the capacity of the pipeline up to 80 mln tons a year by 2020. It is necessary to construct 6 new oil pumping stations at ESPO-1 and 4 stations at ESPO-2, moreover, a reservoir for 100 thousand cubic m of oil will be constructed at the oil pumping station-27. Transneft plans to invest 45 bln roubles into the construction of new objects and modernization of existing ones”, he said.

Mr. Mingazetdinov also said that if previously the oil extraction companies made a very optimistic forecast of production of 80 mln tons of oil a year at the deposits of East Siberia, now the resource base of ESPO is assessed at 444 mln tons of oil in the Western Siberia and only 36 mln tons in the Eastern Siberia.