Archstoyanie: Russia's largest land art festivalSociety & Culture July 24, 16:08
FIFA: all collected doping tests at 2017 Confederations Cup in Russia test negativeSport July 24, 15:49
Kremlin refutes US media reports about Russia's green lobby and shale oil extractionBusiness & Economy July 24, 14:54
Russia, EU discuss joint energy projectsRussian Politics & Diplomacy July 24, 14:51
Russia proposes Moscow and Sochi for hosting 2019 World Boxing ChampionshipSport July 24, 14:20
Kremlin waiting for Washington to word clear position on further anti-Russian sanctionsRussian Politics & Diplomacy July 24, 13:59
Denmark’s Aske Soby wins stage 5 of Moscow-Vladivostok bicycle raceSport July 24, 13:17
Press review: Russian army takes aim at jihadi SUVs and Trump handcuffed by new sanctionsPress Review July 24, 13:00
Large-scale combat readiness check kicks off in East SiberiaMilitary & Defense July 24, 11:47
ST PETERSBURG, June 21 (Itar-Tass) - President Vladimir Putin said the Russian fuel and energy sector was entering a new phase to develop new resources on the shelf, high-viscosity and shale oil, and its output in polar latitudes.
Speaking at a round-table meeting within the St Petersburg International Economic Forum on Friday, Putin said, “The development of the sector is linked to new projects in the East and in the Arctic.”
The president stressed that the volume of new resources was colossal. At least 22 billion tonnes can be produced from the Bazhenov group, Western Siberia, Putin said.
“In recent months we’ve done much - we’ve offered a new tax system to develop stranded gas fields,” the president said, adding that these tasks required coordinated actions, cooperation between producers and return projects related to the exchange of assets, the implementation of projects, localization and license of technologies.
“We’ll pursue this policy,” Putin said, saying the first steps were being taken by Rosneft and ExxonMobil.