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Alekperov Advocates Creation of North Consortium
LUKOIL CEO Vagit Alekperov suggests creating a consortium to develop the continental shelf of northern seas. Alekperov made the respective statement October 27, during the Congress of Geologists, PRIME-TASS reported.
Nowadays, Alekperov specified, it would be reasonable if a government’s company headed the consortium. LUKOIL is ready to step up investments in the geological exploration should it be sanctioned to explore new fields, the official pointed out.
The company’s investments in geological exploration stepped up from 9 billion ruble to 18 billion ruble in the last five years. On aggregate, LUKOIL has injected 116 billion ruble in geological exploration since 1995.
The signals of government aren’t of single meaning, Alekperov said. On the one hand, there are tax benefits for new territories, on the other hand, certain provisions of subsoil laws hinder the companies’ progress there. The laws should encourage geological exploration on new fields and the terms for all companies should be equal, Alekperov emphasized.
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