Consortium of Temmel Oil & Gas Co Ltd and OGH-Nedra Co Ltd planned to develop Payakha Oilfield Project, in Taymyr Peninsula, Siberia, Russia. China Chemical Engineering Seventh Construction Co Ltd was EPC contractor of the project. The project covered the construction of six crude oil processing facilities, a crude oil port capable of handling 50 million tonnes a year, 410 kilometres of pressurized oil pipelines, a 750-megawatt power station and an oil storage facility. The Payakha Oilfield is a government-endorsed petroleum project and one of the largest oil storage facilities in the Arctic region. It has probable reserves of 420 million tons and possible reserves of up to 2 billion tons. The project was part of the Arctic Silk Road.