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Russian government to consider Lukoil' s Arctic shelf proposal

MOSCOW -- The Russian government will consider Lukoil proposal to develop fields on the country' s Arctic shelf, Deputy Prime Minister Arkady Dvorkovich told Kommersant daily in a recent interview.

Under current legislation, Rosneft and Gazprom are allowed to own offshore licenses and other companies can enter projects as partners with them. Lukoil and other non-state companies have petitioned the government for access to offshore deposits.

In October, Lukoil proposed investing $2.7 billion on offshore exploration in four license areas. "The numbers correspond to the government' s vision," Kommersant quoted Mr. Dvorkovich as saying. He said no decision had been taken on allowing non-state companies to own offshore licenses, but that the matter would be discussed at a government meeting.

Dow Jones Newswires

11/22/2012

 

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