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Government determines Arctic benefits for Rosneft - EastRussia | Far East

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The government determined the Arctic benefits for Rosneft

The government determined the Arctic benefits for Rosneft
Photo: pixabay.com

The Russian government made a decision regarding the provision of benefits for the development of oil fields in the Arctic for Rosneft. First of all, it concerns the East Oil project. The state corporation will be able to receive a deduction from mineral extraction tax, but only under certain conditions.

As the Kommersant citing an informed source, Rosneft is unlikely to arrange a decision on benefits. According to him, the company will be able to receive a deduction for the mineral extraction tax of the Vankor cluster if the oil price exceeds the level set in the budget rule.

In addition, the oil giant will not be able to spend the money saved on the construction of the pipeline to the north of Taimyr. The target can only be the infrastructure of the Taimyr oil and gas province, the center of which is the Payakhskoye field, with unclear development prospects.

Earlier, Rosneft requested at the government interest-free tax benefits for working in the Arctic. The company requested 2,6 billion rubles.