State companies Gazprom and Rosneft are likely to loose some of their exclusive rights as the Russian government prepares a set of liberalizing measures for shelf development. The new rules will enable companies with offshore experiences from other countries and with a lower level of Russian ownership to develop projects, Vedomosti reports.
Furthermore, two different kinds of licenses will be issues; one for seismic mapping and another for exploration drilling. The latter will give the licenseholder the right to engage in project development and production, the newspaper writes.
Minister of Energy Aleksandr Novak confirms that the dire economic situation in the country is a key reason for the new regulations and that Lukoil has been a driving force behind the amendments.
Lukoil has long lobbied its interests on the shelf, and has strongly opposed the shelf monopoly position of Gazprom and Rosneft.
Now, with both Gazprom and Rosneft in serious problems of meeting their offshore obligations, the way lies open for other companies like Lukoil. As previously reported, Rosneft has already requested government permission for a two-year postponement of license obligations in 12 projects.
Also gas producer Novatek confirms that it is interested in taking a role in offshore production, Prime reports. In addition, Zarubezhneft is a likely contender for offshore licenses.
Over the last years, only state-owned companies with a minum of five years of offshore experience from the Russian shelf have been entitled to bid for licenses and develop fields.
The new shelf regulations are to be elaborated before May, Vedomosti reports.
