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Rosneft project in Brazil awarded priority status

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Oilfield Technology,

The government of the Brazilian state of Amazonas has assigned priority status to Rosneft’s project in the Solimões Basin.

According to the letter of intent signed between Rosneft Brasil (a 100% subsidiary of Rosneft) and the government of the Brazilian state, regional authorities are to provide conditions for the implementation of Rosneft’s project. In particular, provision of tax incentives to the project, support for the construction of the necessary infrastructure and environmental licensing, and more are envisaged.

Rosneft is developing an upstream project in the Solimões Basin with gas potential. The company owns 13 license areas with a total acreage of approximately 32 600 km2. Estimated by DeGolyer and MacNaughton, the areas contain contingent resources of natural gas in the volume of 60 billion m3. The prospective oil & condensate resources amount to 57 million t, gas to 176 billion m3.

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