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Russia's government grants right to Gazprom to use mineral resource block in Barents Sea

September 08, 2014, 9:26 UTC+3 MOSCOW
Rosneft was also granted the right to use the Deryuginsky site in the Sea of Okhotsk
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© ITAR-TASS/Yury Smityuk

MOSCOW, September 08. /ITAR-TASS/. Russia's government has granted the right to Gazprom to use the Northwestern mineral resource block and the right to Rosneft to use the Deryuginsky site, the Cabinet reports on its website Monday.

The report points out, "These companies have an experience of not less than five years in developing mineral resource sites on the continental shelf of the Russian Federation. More than 50% of the two companies' shares are state-owned".

In accordance with the Law on Subsurface Mineral Resources, the abovementioned sites of federal importance on the continental shelf of Russia are provided without the holding of auctions for prospecting and producing minerals. The mineral resource blocks are also allotted for geological studies, prospecting for and production of minerals under a combined license.

The Northwestern block with an area of 8,861 square kilometers is located in the Barents Sea while the Deryuginsky site with an area of 2,507 sq km is situated in the Sea of Okhotsk.

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