All non-state Russian fuel and energy companies should have the right to develop offshore oil and natural gas fields, as long as they don't resell their rights to foreign corporations, says President Vladimir Putin.
"No one is banned from working offshore. If a private company is looking to come on board and is ready to bear the risks, just as foreign players do, the doors are open to everybody," said Putin during a meeting with business leaders. Putin warned, however, that the government did not want "private companies holding licenses for offshore projects to resell them to ExxonMobil, Chevron or other foreign players." Under Russian law, only state-owned companies with more than five years' experience in such projects can develop offshore fields, and currently only Gazprom and Rosneft enjoy the right to develop offshore deposits. Lukoil, TNK-BP, Bashneft and Surgutneftgas have recently agreed to join Rosneft in developing hydrocarbon deposits in Russia's Arctic offshore fields, while Gazprom will, through its subsidiaries, continue to develop offshore oil and gas fields in the Sea of Okhotsk, the Barents and Pechora seas.
http://rt.com/business/news/rosneft-gasprom-lukoil-bashneft-surgutneftegas-arctic-offshore-putin-tnk-bp-124/
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