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Russian Energy Ministry’s proposals on watered fields will drive production up by 50%

June 01, 2017, 12:53 UTC+3 ST. PETERSBURG
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ST. PETERSBURG, June 1. /TASS/. The proposals of Russia’s Energy Ministry on watered fields will allow to boost production by more than a half, First Deputy Energy Minister Aleksei Texler said at the St. Petersburg International Economic Forum (SPIEF-2017) on Thursday.

"Our proposals are aimed at an increase of production [at watered fields] of 50-55% within the next 15-20 years," he said.

As reported earlier Russia’s Energy Ministry proposes to grant tax perks for watered fields with annual production amounting to 40 mln tonnes.

The ministry has sent the proposal to the Finance Ministry and the government.

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