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Energy Ministry to set up council on oil, gas innovatiions

February 06, 2013, 6:47 UTC+3

The Council has been assigned to give assistance in implmenting the main aspects of the Strategy

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MOSCOW, February 6 (Itar-Tass) - A Consultative council on innovative development of the oil and gas sector will be set up at the Russian Ministry of Energy, an official in the Ministry's press service announced on Wednesday referring to the results of the Counicil's kickoff meeting.

A Ministry official explained that the Council is being set up as a floor for the preparation of proposals on priority aspects of scientigic and technological development of the oil and gas sector of Russia, the elaboration of roadmaps and refinement of the sector's regulatory framework.

Energy Minister Alexander Novak pointed out, "A transition of the economy to an innovative socially-oriented model of development is currently under way in the RF in line with the 'Strategy for Innovative Development of Russia in the Period until 2020'. The main aim of the Consultative Council's work will be to promote technological development of the Russian oil and gas sector on the all-sector basis with the invitation of leading Russian and world oil and gas companies, experts, and educational instituttions".

The Council has been assigned to give assistance in implmenting the main aspects of the Strategy. This refers, in particular, to raising the efficiency of the development of oilfields up to oil extraction coefficient of 0.47, to an increment in the resource base of hydrocarbon fuel up to 39,000 million tonnes, and an increase in the share of production at offshore hydrocarbon fuel deposits up to five percent of of the all-Russian production.

A working group will be set up on each aspect. Representatives of3 Russian oil and gas companies and research institutions, which participated in the kickoff meeting are to suggest candidacies of future members of the Consultative Council. A final list is subject to approval by the Energy Ministry.

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