Rosneft, agencies discussing new discount for Vankor if oil below $95
KRASNODAR. June 10 (Interfax) - Rosneft and the government agencies are discussing reinstating tax breaks for the Vankor oil field if oil prices fall below $95 a barrel, a Rosneft source told reporters.
"This is being discussed but no decisions have been reached at government or ministerial level," he said.
"A package of measures is being considered, including a discounted customs duty if oil falls below $95," the source said, adding that this would apply specifically to Vankor.
The measures are being discussed in a bid to sustain returns of 21% on the Vankor project, the source said.
The government canceled discounts for Vankor, the Talakan field, which is licensed to Surgutneftegas , and Verkhnechonskoye, licensed to TNK-BP , on Mat 1, 2011. Discounted duties for 22 fields in east Siberia were introduced on July 1, 2010.
Rosneft is also expecting fiscal guarantees for the Yurubcheno-Tokhomskoye field in order to support a margin of 21% there, also.