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Chukotka to present new oil production projects at Eastern Economic Forum

August 14, 2017, 10:05 UTC+3 TASS

The third Eastern Economic Forum will take place in Vladivostok on September 6-7

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TASS, August 14. Russia’s northeasternmost region Chukotka will present investment projects in tin, oil and gas production at the Eastern Economic Forum, due in Vladivostok on September 6-7, press service of the region’s government said on Monday.

Chukotka will be presenting its project at the forum for the first time. "This year, the Chukotka Autonomous District will for the first time make investment presentations at the third Eastern Economic forum," the press service said. "They are in production of tin at the Pyrkakay mine, as well as production of gas at the Zapadno-Ozernoye field and oil at the Telekay deposit."

"The projects were made by Chukotka’s Development Fund," the press service added.

However, no details of the projects are available yet. The Eastern Economic Forum will feature Canada’s Kinross Gold, Australian Tigers Realm Coal Limited and Russia’s Regional Mining Company, which already have projects in Chukotka. In 2016, on the margins of the Eastern Economic Forum, Chukotka signed agreements worth more than 40 billion rubles ($668,473,254). The region is drafting new agreements now.

"Last year, the region signed agreements, under which the investments are more than 40 billion rubles," the press service said. "Those are agreements in the energy, transport infrastructures, and development of gold production."

"We are preparing for the event, and plan negotiations," the press service continued. "Our plans are to sign at the Forum agreements on investments in the social infrastructures, in development of tourism, wind energy, as well as in the electric energy."

The third Eastern Economic Forum will take place in Vladivostok on September 6-7. TASS is the event’s general information partner and moderator of the investment projects’ presentation zone.

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