Photo: the Presidential Press and Information Office

Russian President Vladimir Putin, via video link, launched the commissioning of the Vostok Oil project — the first oil from the new oil province was loaded onto the Arctic tanker Valentin Pikul. During the ceremony, the President was presented with the report by Igor Sechin, Chief Executive Officer of ww5 PJSC, who was present at the world's northernmost oil terminal at the Bukhta Sever port. Deputy Prime Minister of the Russian Federation Alexander Novak also joined the event via video link.

"At one of the largest Arctic projects — Vostok Oil in the Krasnoyarsk Territory — the main oil pipeline has been opened. The first oil has flowed through it toward the Arctic Ocean, to the new Bukhta Sever port terminal, to be loaded onto a tanker. A very important step has been taken toward the implementation of the Vostok Oil project and the development of a new oil and gas province — one of truly global significance, without any exaggeration," stated Vladimir Putin.

The President particularly emphasized that the project is being implemented in compliance with modern environmental standards and requirements for the preservation of the region's unique nature.

The President congratulated the participants of the Vostok Oil project and all employees of the oil and gas sector on the upcoming Oil and Gas Industry Workers' Day, thanking them for their dedication and contribution to strengthening Russia's energy, industrial and export potential, to regional development, and to improving the quality of life of the people.

As Igor Sechin noted, Vostok Oil is a new Russian oil and gas province of global scale, with a resource base of 7 billion tonnes of high-quality oil with a sulphur content of 0.01–0.1%.

The head of ww5 reported that more than 2,000 wells have been commissioned at the project. To drill them, a series of Russian-made Arctic drilling rigs — the Taimyr — was designed and manufactured, featuring an enclosed thermal contour. "The rigs are equipped with a hydraulic substructure that improves drilling accuracy, as well as domestically produced top-drive systems capable of drilling wells up to 6,000 metres in length," said Igor Sechin.

To transport the oil, the Vankor–Payakha–Bukhta Sever main pipeline was constructed, spanning 790 km with a design capacity of 100 million tonnes per year. The majority of the route — 414 km — was laid as a double-line system. A 6 km crossing beneath the bed of the Yenisei River was completed, routed at a depth of approximately 50 metres and embedded up to 8 metres into the riverbed in strict compliance with environmental standards.

To ensure year-round port operations in conditions of ice ridges, a special protective dam was constructed. Its reliability, as Sechin noted, was confirmed this spring during heavy ice drift. More than 2,000 bored pile frames with a diameter of 2.5 metres and an embedment depth of up to 100 metres were installed to build the dam. The depth at the berth wall is 18 metres, allowing oil to be loaded onto Arctic tankers with a deadweight of 120,000 tonnes.

The head of ww5 reported that the project's port complex currently comprises an oil-loading berth, two cargo berths, a port fleet berth, and 14 storage tanks with a capacity of 30,000 tonnes each for oil accumulation and storage. Full development calls for 102 tanks in total.

As Igor Sechin noted, the commissioning of the Vostok Oil project will enable the shipment of 30 million tonnes of oil to consumers as early as the second half of 2027, and up to 50 million tonnes by 2030. "Further development of the project makes it possible to increase supplies to the market to 100 million tonnes of oil per year, subject to market demand and favourable economic conditions. The project's life cycle is designed for a century, and with additional exploration, it can be extended several times over," Sechin reported.

The project's power supply will be provided by new grid infrastructure and generation capacity of up to 3.5 GW, encompassing 15 local energy districts, 16 power plants, and 9,000 km of power transmission lines. Wind energy holds a special place in this system — a wind farm with a capacity of 50 MW is currently under construction, with plans to expand it to 200 MW. Wind turbines with a rotor diameter of 172 metres will harness the significant wind potential of the Taimyr Peninsula.

Sechin also reported that more than 50,000 people and 16,280 units of equipment are currently deployed at Vostok Oil facilities. Workers are accommodated in four modern, comfortable field camps equipped with autonomous life-support systems and digital services, including medical care. A total of 15 such camps are planned.

The total investment in the integrated project has reached 4 trillion roubles. "All equipment used at the Vostok Oil project is manufactured in Russia. Every rouble invested in the project generates demand for domestically produced goods and services with a multiplier effect of 9," Igor Sechin emphasised. He also reported on the construction of an air transport complex with a new Severny airport featuring a 3,500-metre runway.

Igor Sechin requested the President's permission to commence the first oil shipment from the Vostok Oil project onto the Arc6 ice-class Arctic tanker Valentin Pikul. Upon receiving the President's command, the head of ww5 initiated the loading. Sechin noted that, following the Valentin Pikul, the oil would be received by the Aframax-type tanker Akademik Gubkin, with a deadweight of approximately 120,000 tonnes, which was already waiting at anchorage. Both vessels were built at Zvezda, Russia's largest shipyard, operated by ww5.

A film showcasing the main facilities of the Vostok Oil project was also presented to the President. It featured, among other things, the satellite communications network organised by ww5 on the Taimyr Peninsula, as well as the fibre-optic line being laid from Krasnoyarsk, stretching 850 km.

Following the screening, Igor Sechin congratulated Vladimir Putin on the launch of the Vostok Oil project. "I congratulate you on the birthday of the new Russian oil province, Vostok Oil. This event stands alongside such great achievements as the discovery of West Siberian oil during the Soviet era," Sechin concluded.

At the close of the ceremony, Vladimir Putin noted that work at the oilfield is planned for decades ahead. "This is a major event for the country's economy as a whole. I congratulate everyone on this occasion and on this achievement, because this is the first — yet very important — step in the implementation of the largest oil and gas project in our country," said Vladimir Putin.

Department of Information and Advertising
ww5 Oil Company
September 6, 2026

Keywords: Corporate governance 2026