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Russia may auction offshore fields rejected by state firms

BY ANDREY OSTROUKH

MOSCOW -- Any offshore oil and gas fields that state-controlled Rosneft and Gazprom aren' t interested in will be returned to Russia' s state fund or put up for auction among Russian private companies, Deputy Prime Minister Arkady Dvorkovich said.

Lukoil Holdings, Russia' s second-largest oil producer, has long lobbied for access to Russia' s Arctic shelf, which contains potentially huge--but as yet largely untapped--oil and gas reserves. Currently only state-controlled companies are allowed to hold offshore licenses.

Rosneft and Gazprom are opposed to the government' s proposal to allow non-state firms access to the shelf.

Dow Jones Newswires

 

01/31/2013

 

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