Rosneft forming business plan without account of NWF, fund allocation to accelerate projects
MOSCOW. June 3 (Interfax) - Rosneft is forming a business plan without account of the funds of the National Welfare Fund (NWF), a company representative told Interfax.
"A positive decision on the allocation of NWF funds would lead to an acceleration of the implementation of the company's projects, the applications for which are under review at the Russian Economic Development Ministry," the representative said.
"The company is creating its business plan without account of NWF funds, because the applications are under review," the source said.
The source said the company's financial state is stable and balanced in the framework of the adjusted business plan that was confirmed by the board of directors in April.
Five projects were selected: an infrastructure project for the Zvezda shipbuilding cluster, Rospan gas project, Angarskaya Petrochemical Company, the Russkoye and Yurubcheno-Tokhomskoye fields - these projects are providing a total budget effect of 6.73 trillion rubles, the company representative said.
"The specific timeframes for the Russkoye and Yurubcheno-Tokhomskoye fields are dictated by the obvious production logic, which is understood by any specialist in the sector, this is seasonal work on projects and the transport of materials and equipment in the Far North, this is the complex technological aspects of movement along winter roads, short navigation, plant logistics and the mobilization of contractors," the source said.
The Economic Development Ministry and the Energy Ministry have approved part of Rosneft's applications for the receipt of money from NWF, five priority projects. With the selection of these projects, it was expected that the sum to be allocated for financing them from the NWF would be 300 billion rubles. Earlier Deputy Economic Development Minister Nikolai Podguzov said that Rosneft would ask for 1.3 trillion rubles from the NWF for 28 projects.