Russian Environment Ministry Backs Rosneft, Nornickel Agreements On Oil Reserves In Arctic

MOSCOW (UrduPoint News / Sputnik - 30th July, 2020) The Russian Ministry of Natural Resources and Environment said on Wednesday that it supported the conclusion of agreements between Nornickel metals giant and Rosneft oil and gas corporation in fuel supply and the development of oil and gas fields in the Arctic zone of the Krasnoyarsk Territory.

Earlier in the day, the companies agreed on a partnership in the field of fuel supply, within the framework of which they expressed support for holding an auction for the Ushakovskoye field on Russia's Taymyr Peninsula, as previously proposed by Rosneft, and also agreed on the supply of oil products to enterprises in the Norilsk industrial region.

"The Russian Ministry of Natural Resources and Environment supports Rosneft and Nornickel reaching an agreement on partnership in the field of fuel supply and the development of oil and gas fields in the Arctic zone of the Krasnoyarsk Territory," the ministry said in a statement.

At the same time, the granting of a license for the use of sites will be carried out following the results of auctions, the ministry said, without specifying whether such auctions will be held on the special terms proposed earlier by Rosneft.

As part of Arctic project Vostok Oil on the Taymyr Peninsula, Rosneft seeks to obtain licenses for three areas, including the Deryabinskoye, Kazantsevskoye and Ushakovskoye fields � total reserves of 128 billion cubic meters of gas.