PRESS: Rosneft to get incentives for Priobskoye field – sources

MOSCOW, May 29 (PRIME) -- Russian oil major Rosneft will receive incentives for the Priobskoye field in the Khanty-Mansi Autonomous District, Kommersant business daily reported Wednesday citing sources.

In late 2018, CEO Igor Sechin asked President Vladimir Putin to provide the company with a tax deduction on the mineral extraction tax (MET) for this field, since its water content exceeds 90%. The Finance Ministry has estimated the shortfall in income from the provision of such benefits at 460 billion rubles over 10 years.

Rosneft’s production at the Priobskoye field reached a maximum of 26 million tonnes in 2018, including 9 million tonnes that are already eligible for MET incentives, sources said.

Earlier, Rosneft received incentives for its Samotlor field in the form of MET deduction of 35 billion rubles per year for 10 years.

(64.5394 rubles – U.S. $1)

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