Rosneft's board of administrators affirmed key parameters for Samotlor discipline improvement program.

As for right now, whole oil output at Samotlor exceeds 2.7 btoe. Over 19,000 wells had been drilled on the discipline. However, the water-cut of its manufacturing quantities as much as 96%, which has a fantastic influence on financial effectivity of investments into oil manufacturing.

The essential a part of Samotlor reserves are hidden in formations with low permeability and low saturation. The relaxation are edge zones of depleted reservoirs. Given present fiscal burden such options of the sector might have led to low return of investments into new drilling, in addition to to output decline.

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During 2016-2017 Rosneft and the Russian authorities have been elaborating in particulars extra choices for the event of distinctive Samotlor discipline. As a consequence a joint choice was made for an funding incentive within the type of an annual mineral extraction tax discount of RUB 35 billion throughout 10 years.

ThebBoard has confirmed the Company’s obligations to drill over 2,400 wells throughout 2018-2027 that would offer extra output within the quantity of greater than 50 mtoe. The prolonged Samotlor improvement program would lead to a rise of tax liabilities to budgets of all administrative ranges to RUB 1.7 trln. The funding incentives ought to give new momentum to the event of one of many largest fields within the nation and produce vital multiplicative impact for Russian financial system.

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With this Russian Federation would obtain appreciable earnings not solely because of the output improve at Samotlor within the nearest future, but in addition because the controlling shareholder of Rosneft – from capitalization development and extra dividend payouts.

Source: www.worldoil.com

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