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7 Trillion Rubles Might be Invested into Oil and Gas Shelf Development
21.10.2011 12:44
7 Trillion Rubles Might be Invested into Oil and Gas Shelf Development

From 6 up to 7 trillion Rubles are planed to be invested into gas and oil deposits on shelf within the state program of developing Russian continental shelf till 2030.  More than 1 trillion Rubles might be allotted from the federal budget, reports The Kommersant. For comparison, the annual budget income is about 11 trillion Rubles.

At the moment the state program is not approved. It will be considered by the Government on November 17, informs the newspaper.

The state program says, from 40 up to 80 million tons of oil and 190 -210 billion cubic meters of gas might be extracted on the shelf annually. For the nineteen years from 380 up to 1 250 million tons of oil and 1-2.6 trillion cubic meters of gas will be extracted. Now about 500 million tons of oil and about 600 billion cubic meters of gas is extracted in Russia a year.

Author: Irina Fomina

Tags: Russian business Resources investment   

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