NEWS & EVENTS: Breaking News
28.08.2008 10:55
Aug 28. The process of issuing a license to a JV of Rosneft and Lukoil Priazovneft to tap the Temryuksko-Akhtarsky block of the Azov shelf could be delayed indefinitely. Oil Information Agency reported quoting Priazovneft's request filed to the Natural Resources Ministry that in November 2007 the company discovered a field on the Novaya formation on the Temryuksko-Akhtarsky block at its own expense as part of an exploration license for the block. In April 2008 the company submitted materials to the Natural Resources Ministry to reimburse expenses from the state for earlier performed exploration activities. "We recently found out that reimbursement has been cancelled and there is no new regulation. How can we plan further activities to acquire this field and put it on stream at a later time?" the company inquires. In response to this request the ministry explained that in line with the most recent amendments to the federal law "On Subsoil" this block located on the internal sea shelf should be classified as strategically important. The procedure for issuing a license to extract oil there should be established by the Russian government. In addition, explains the Natural Resources Ministry, the list of strategically important fields has not been published yet. "Thus, until the Russian government approves the relevant documents and the list is published in the media, decision-making on issuing a license to tap the block when a field is discovered on the strategically important block for exploration and production of mineral reserves is not possible" – the ministry explains.
| If you would like to share your opinion, you will need authorization! |