Russian prime minister declares 3rd Winter World Military Games openMilitary & Defense February 24, 22:33
Russia to veto UNSC resolution imposing sanctions on Syria — envoyRussian Politics & Diplomacy February 24, 22:29
Ukrainian MP Savchenko arrives in Donetsk republic to visit Ukrainian prisoners — agencyWorld February 24, 22:25
Russian Defense Ministry surprised over German MPs reaction to Reichstag miniature plansRussian Politics & Diplomacy February 24, 16:32
Iraq's PM orders airstrikes on IS positions in SyriaWorld February 24, 16:09
Nord Stream 2 financing model to be ready by year end - OMVBusiness & Economy February 24, 13:44
Churkin left bright mark in history of Russian diplomacy, Lavrov saysRussian Politics & Diplomacy February 24, 12:20
Cargo spacecraft docks ISS in automatic modeScience & Space February 24, 11:58
Belarus to present to European Commission report on NPP stress tests' results - ministryBusiness & Economy February 24, 11:36
MOSCOW, April 20. / TASS /. The work of Russian companies in the Arctic offshore zone continues, Energy Minister Alexander Novak told reporters.
"Our companies continue to work offshore, they continue drilling, continue explorations. Of course, not at the same rate that was when oil prices were high, however, we keep on moving ahead," he said.
Under the Russian law, only state-owned companies - Rosneft and Gazprom have access to the Arctic offshore fields. The Russian government is authorized to take decisions on granting licenses to develop the fields without contests and auctions.
Earlier, Russia’s Energy Ministry said that it expects the increase in production in the Arctic offshore zone to 31-35 mln tonnes by 2035.
Currently, "the production volume in the area taking into account the increase in production at the Prirazlomnoye field last year and the volume of production in the offshore zone of the Sakhalin island is about 19 mln tonnes."