- We suggest to give licenses on exploration and valuation of oil and gas resources with right to participate in exploitation to all companies who wants it, including foreign companies, said Deputy Minister of Natural Resources Igor Maydanov at the Forum “the Arctic – Territory of Dialogue” in Moscow on Thursday, RIA Novosti reports.
Maydanov says this will give more knowledge about the shelf and relieve state companies of the risk connected with geological exploration in early stages.
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The official said that it is important to enlarge the number of companies licensed to work on the shelf: - Without large-scale participation of private, including foreign, capital, it will be impossible to put projects into life within the foreseeable future.
For the time being, only the Russian state companies Gazprom and Rosneft have right to search for and produce oil and gas on the shelf. The Ministry of Natural Resources suggests establishing consortiums with participation of foreign companies with experience in exploration and production on the shelf.
