June 3, 2021 [Market Screener] – OOO Vostok Oil (Rosneft Group Subsidiary) and AO United Energy Construction Corporation have signed an agreement for the installation of hydraulic structures at the North Bay Port Oil Terminal.

The agreement envisages preparation of working documentation packages for the ‘Oil Terminal. North Bay Port’ Project along with construction of two general cargo terminals, two oil-loading terminals, a harbor fleet terminal, and an artificial land plot.

Facilities of the ‘Oil Terminal. North Bay Port’ Project together with port’s oil storage and loading infrastructure are included to the list of facilities of federal importance.

The Oil Terminal will enable exporting oil produced at fields of the Vostok Oil Project by the Northern Sea Route both westwards and eastwards. It is planned to ensure the readiness of facilities for transshipment through the sea terminal up to 30 million tons of oil per year in 2024, up to 50 million tons in 2027, and up to 100 million tons in 2030.

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