MOSCOW, August 26. /TASS/. The initiative to give access to Arctic shelf exploration to private investors, only concerns 10% of unallocated licenses, a source that participated in discussions told reporters on Monday.

"Offshore access for investors was only discussed in the context of unallocated 10% of licenses," the source said following the meeting headed by Russian Deputy Prime Minister Dmitry Kozak and Deputy Prime Minister, Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yury Trutnev.

Spokesperson for Kozak told TASS earlier that it was planned to be requested to draft a bill on giving access to Arctic shelf operations to private investors following the meeting on Monday. Later he told reporters that "general questions on encouraging the Arctic shelf exploration were discussed, and it would be requested to draft a respective bill."

The law says that only companies with at least 50% of state participation and with the offshore operations experience of five years and more may develop Russia’s offshore subsoil reserves. In 2016, the Russian government imposed a moratorium on new offshore oil and gas licenses for drilling on the country's Arctic shelf. Only Gazprom and Rosneft currently have operations there.

Trutnev earlier estimated the resources of the Arctic zone at 17 mln ronnes of liquid hydrocarbons and 85 trillion cubic meters of gas. Meanwhile, the degree of geologic certainty of the Arctic overall and offshore zones in particular remains extremely low, he emphasized. Trutnev also pointed out the relevant issue of compliance with license agreements.