MOSCOW, April 12 (Itar-Tass) —— Russian Prime Minister Vladimir Putin said on Thursday that new shelf projects would attract around 500 billion dollars to Russia in the next 30 years. Putin told a conference on continental shelf development that new conditions of shelf exploration would step up the development of related industries and attract additional 300 billion dollars alongside with direct investments in the extraction of oil and gas.
Putin stressed that new shelf projects should be carried out on conditions of localization. In short, contacts and orders for the production of equipment, provision of services, construction works and geological prospecting should go to Russia in the first place.
"We think that reasonable localization levels should be no less than 70 % -75 %,” Putin emphasized.