Regional Authorities To Expedite Rosneft Activity At Bazhenov

November 4, 2013

Rosneft, along with Lukoil and Surgutneftegaz will enjoy support from the government of the Khanty-Mansyisk-Yugra autonomous area and personally Governor Natalya Komarova, Pravda URFO reports. Russian authorities have suggested that the state company Rosneft should increase the production of “tight” hydrocarbons in several areas.

The local authorities will help the world’s largest vertically-integrated oil company in the production of hard-to-recover reserves from the Bazhenov formation with the help of a road map aimed to help Rosneft obtain the documents needed to develop the Prirazlomny, Priobsky and Pravdinsky blocks faster.

OGE EVENTS: Save the Date! 1st Annual Bazhenov International Conference, April 13-14, 2014, Moscow

The area may contain over 10 billion tons of such hydrocarbons. In order to stimulate production, zero royalty and zero property tax are offered at the initial stages.
 
The oil companies say the support measures should help minimize risks in the production of difficult oil. Experts are sure that the offered measures will produce effect, but they doubt that the measures will help stabilize oil production.
 
Copyright: Pravda URFO, 2013