Vladimir Putin announced that the first oil has been extracted from the Vostok Oil project. The initiative is projected to produce approximately 30 million tons of oil in the second half of this year, with the potential to reach 100 million tons annually under favorable market conditions, according to Igor Sechin. The oil is expected to be supplied to both Western markets and Asia-Pacific nations, said Alexander Novak. Vostok Oil’s resource base is estimated at 7 billion tons of low-sulfur oil, making it one of the world’s largest deposits, Putin noted.
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