Rosneft’s invest in Priobsky field to boost output by 70 mln tns

MOSCOW, Sep 28 (PRIME) -- Investment of Russian oil major Rosneft in the Priobsky deposit will be equal to the mineral extraction tax benefit, if it is granted by the government, and will increase production by 70 million tonnes in 10 years, the company said on September 26.

“The legally binding investment contract between the company and the government will allow multiplying the state’s income to 1 trillion rubles… Under the investment contract, Rosneft will be obliged to make additional investment in expansion of crude production at the Priobsky license area. The investment will be equal to the sum of the tax benefit in 2021–2030 and will ensure additional production of 70 million tonnes of oil in the corresponding period,” it said.

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