Ministry: Russian govt approves incentives for Priobskoye deposit

MOSCOW, Sep 12 (PRIME) -- A decision on incentives to Russian oil companies Rosneft and Gazprom Neft to develop the Priobskoye deposit has been made but the terms are discussed, head of the tax and customs policies department of the Finance Ministry Alexei Sazanov said at the Moscow Financial Forum on Thursday.

“A decision that the incentive will be provided has been made,” Sazanov said. “We are discussing the terms depending on oil prices… Just as I said, there are issues with compensation for shortages in the basic budget revenue,” Sazanov said.

He also said that the introduction of the mineral extraction tax (MET) for oil-associated gas could replace lost revenue but the Finance Ministry is ready to consider alternatives.

End