Min: Private companies to develop fields in Russian waters

MOSCOW, Apr 4 (PRIME) -- Privately owned companies will be allowed to develop oil and gas deposits in Russia’s national and territorial waters, if they have discovered them, a spokesperson for the Natural Resources and Environment Ministry told PRIME on Tuesday.

It is envisaged by a draft law created by the ministry and approved by the government’s legislative commission, the spokesperson said. According to the bill, geological exploration licenses for shelf oil and gas deposits may be issued by the government.

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