Date: 6 months ago   Category: Energy

Rosneft has appealed to Putin to provide investment incentives in Siberia — Rambler News Service


Rosneft has appealed to the President of Russia Vladimir Putin to provide the companies investment incentives when developing fields of Western and Eastern Siberia, the representative of Rosneft has reported RNS. The letter of the head of the company Igor Sechin to the head of state as the representative of Rosneft has explained, concerns falling of oil production in Western Siberia. "Today oil production in Western Siberia is burdened in the highest percent of tax withdrawals in the country: at the level of 75-85%. Granting investment incentives for fields of Western Siberia can financially change the GDP loudspeaker, increase cumulative investments into national economy and income of the state budget", he said. As the representative of the company has emphasized, according to the experts, stimulation of investments into production in Western Siberia can yield in addition more than 1 trillion rub of budget revenues till 2024 - it is about income from growth of production in the region on all branch. As the top manager of the large oil company has explained, the last 10 years there is a falling of oil production in Western Siberia on 1,5% a year at with a growth of production at competitors: in the USA, Brazil and other countries. "The quality of reserves of oil in Western Siberia is better, than in America, but fiscal withdrawal don't allow us to invest in their development that not only to stop this falling, but also to provide production growth. If not to give such opportunity, we will concede to competitors the share in the world market. The problem is obvious" — he has said. Resources in Western Siberia only in the Khanty-Mansi Autonomous Okrug (KMAO) exceed 12 billion tons of oil, the head of Vygon Consulting Grigory Vygon has noted, from them about 5 billion tons aren't involved in software development to the economic reasons. At the same time the level of privileges on MET in Khanty-Mansi Autonomous Okrug the lowest among the extracting regions. To increase investment attractiveness of drilling, according to the expert, it is possible due to increase in payment for depreciation as it becomes in Norway. The federal budget with a growth of oil production will receive additional receipts from MET. In turn, the partner of the McKinsey & Company Vadim Druzhina has noted that thanks to tax incentives in the last 10 years Russia could increase oil production in the new extracting regions, such as Eastern Siberia, and on fields with hardly removable stocks.

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