Rosneft to increase investment in Arctic shelf over 5 years
Rosneft Oil Company intends to increase the amount allocated for the development of the Arctic shelf by several times, the TASS news agency reports citing a company representative.
“Rosneft’s investment in the development of the Arctic shelf totalled roughly RUB 100 billion from 2012–2016. Going forward, the company has no plans to reduce the pace of work, and in the near future total investment in development will increase by several times compared with the level seen over the last five years”, the representative said.
At present, Rosneft has licenses for 28 sections of the Arctic shelf with total resources of 34 billion tonnes of oil equivalent.