18 Sep 2018 09:34

Russia to take stock of preferences for oil fields by spring, work out standard criteria

MOSCOW. Sept 18 (Interfax) - Russia will conduct an inventory of preferences for oil fields by spring and work out standard criteria for granting preferences, Deputy Prime Minister Dmitry Kozak, whose brief includes the fuel and energy sector, told reporters.

"The issue that it is necessary to work out criteria for assessing the profitability of fields, conduct an inventory of all fields based on these criteria and conduct an inventory of granted preferences, these historical accretions that we have today, will be raised tomorrow at a meeting with Prime Minister Dmitry Medvedev," Kozak said.

"All [oil companies] are unhappy, all have expressed this displeasure, they're looking at one another like someone has more. Therefore [it's necessary] to work out such standard criteria with [oil companies'] participation, conduct an inventory of these fields and prepare a systematized list of preferences based on the criteria by spring in order stimulate production, including difficult oil reserves," Kozak said.