Transneft begins work on $3 billion pipeline in Siberia

By Vladimir Afanasiev

 26 July 2012 22:59 GMT

RUSSIA’S state-controlled company Transneft has started construction of a $3 billion oilexport pipeline in East Siberia, the official goal of which is to assist the country’s oil companies in commercialising reserves in the Krasnoyarsk region, writes Vladimir Afanasiev.

The company’s contractors are cutting down the forests to clear the route of the pipeline to link Kuyumba with Taishet. The settlement of Kuyumba is near the Kuyumbinskoye oilfield owned by Slavneft, which is a joint venture between oil producers TNK-BP and Gazpromneft.

Besides the Kuymbinskoye field, the pipeline will unlock the development of the Yurubcheno-Tokhomskoye deposit operated by state-controlled oil company Rosneft.

Transneft said the annual capacity of the pipeline is planned at 110 million barrels, enough to accommodate output from the two fields and other smaller deposits. The new pipeline, about…

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