Rosneft will invest 500 milliard dollars to the Arctic
14:46 9 февраля 2015
Категории: News in English
During the coming 20-25 years Rosneft will be able to invest 500 milliard dollars to development of the Arctic. This information was given by the minister for energy of the Russian Federation Alexander Novak on the youth forum «The Arctic Expedition».
As he says, if at least that work that was planned by Rosneft on the program of development of the Arctic is fulfilled, then during the coming 20-25 years the company will invest about 500 milliard dollars to development of the region and will create 300 thousand working places.
As Alexander Novak underlines, the Ministry for energy of the Russian Federation and Russian companies, in spite of the sanctions, do not cancel their plans on development of the Arctic shelf though they have definite difficulties with attracting of foreign partners, as RIA «Novosti» informs. They work with other companies, including in the Asia-Pacific region, are busy with import substitution, will take efforts in order during the shortest time to provide production of necessary equipment in Russia, as the minister notes.
As we should remind, about 60 large fields of hydrocarbons are situated behind the Polar Circle, 43 of them are situated in the Russian sector. The total extractable resources of the Russian Arctic are evaluated in 106 milliard tons in oil equivalent, reserves of gas – almost in 70 trillion cubic meters.