ROSNEFT OIL COMPANY: Agreement Signed on Investment Incentives for Priobskoye FieldSource: EQS
ROSNEFT OIL COMPANY (ROSN)
Agreement Signed on Investment Incentives for Priobskoye Field
Subject to the agreement, the MET deduction is provided when the monthly average Urals price exceeds the threshold stipulated in the fiscal rule. The agreement has been signed for ten years.
The agreement is mandatory for all parties involved and provides for transparent and easily governed incentive schemes ensuring accelerated field development. The agreement enables Rosneft to expand the drilling footage at the Priobskoye field and increase tax revenues for the national budget.
The successful implementation of the incentives project for the Priobskoye field will provide massive synergy for the nation's economy through an increase of gross output of all additional manufactured products and services of at least
Note for Editors:
The Priobskoye field is the largest oil field in Khanty-Mansi Autonomous Area-Yugra, which has a complex geological structure and is considered to be multi-zone and low productive. The Priobsky license area developed by
The field was discovered in 1982 and put into development in 1988. The cumulative output has exceeded 430 million tonnes of oil.
About 25 million tonnes of oil is produced at the field annually, which account for 4.5% of the total Russian production.
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February 5, 2020
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