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Putin inks MET preferences for northern, East Siberian oil fields

June 30, 2014, 18:42 UTC+3 MOSCOW
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MOSCOW, June 30. /ITAR-TASS/. Russian President Vladimir Putin has signed the law on mineral extraction tax (MET) benefits for oil deposits fully or partially located in the Nenets Autonomous District, on the Yamal Peninsula in the Yamal-Nenets Autonomous District, in the Republic of Sakha (Yakutia), and in the Irkutsk and Krasnoyarsk regions, according to a statement posted on the Kremlin’s website on Monday.

Companies will pay zero MET for their oil since the output reaches 15 million tonnes in the Nenets Autonomous District and on the Yamal Peninsula; and 25 million tonnes for fields located in the Republic of Sakha (Yakutia), and in the Irkutsk and Krasnoyarsk regions.

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