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22.12.2010 15:53
© kenhodge13 @ flickr.com
Until 2020 one fifth from the Russian oil will be extracted from the continental shelf, says The General scheme for the development of the oil industry in Russia until 2020, RBK Daily announced.
According to recent calculations the oil and natural gas deposits in the continental shelf of Russia are respectively 12.2 billion tones and 63.3 trillion cubic meters. The Russian energy ministry has developed a plan for adoption of the oil deposits which says that Rosneft will have the leading role in the oil extraction and will receive the major part of the licenses.
A major problem for the adoption of the deposits in the Russian aquatory is the geological risks and the slow exploration process of the deposits of which only 5% are explored. The government plans to solve the problem with a change in the extraction tax policy, because the current tax system makes investments in shelf deposits less attractive.
On the other hand the adoption of the arctic continental shelf is not a priority for the Russian oil companies at the moment as onshore projects are more important for now and about a half from the shelf extraction until 2020 will come from the Caspian Sea, says the analytic from Rye, Man & Gor Securities, Konstantine Iuminkov.
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