Russia May Allow More Firms to Access Offshore Oil

Source: Reuters 3/29/2015, Location: Asia

Russia may allow more oil companies to access its offshore projects, Energy Minister Alexander Novak said on Friday. 'In general, the access can be extended,' Novak told reporters in Moscow.

An existing law stipulates that only state energy majors Rosneft and Gazprom can explore offshore fields. But Lukoil, Russia's No.2 oil producer, has long called for extending access to private firms as well.


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