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Development of offshore projects: words or deeds?

Development of offshore projects: words or deeds?

The focus on offshore projects is an old and stable trend in development of the world oil and gas production industry. In Russia there are active debates about huge potential of our shelf; however, there are serious problems with moving from talking to working.

The government promises significant assistance, both infrastructural and fiscal. But this does not seem to be sufficient. As a result, there is a question whether the shelf will become a lifeline of the Russian oil and gas sector. Moreover, the state is starting to speculate about other projects, such as untraditional oil, not even having begun the real development of offshore fields.

The analysis of real time frames of the launch of breakthrough shelf projects is a central topic of this report.

The report elaborates on the following issues:

  • State regulation of shelf development

    • Evolution of shelf programs
    • New configuration of elites, their views on shelf projects
    • System of state control over shelf exploration
  • Shelf owners

    • Rosneft and Gazprom defend their monopoly
    • Do private companies have chance to change the situation?
    • Possible privatization of state companies, legal collisions caused by that
  • Foreign corporations on the Russian shelf

    • Analysis of swap deals
    • Role of nonresidents on the shelf, their zone of responsibility
  • Upcoming taxation revolution

    • Analysis of new system of taxation of shelf projects
    • Position of its opponents, time of its introduction, possibilities for further revision
  • Prospects of developments

The contents of the report:

Introduction 3
Chapter 1. Oil and gas potential of Russian offshore zone 4
Chapter 2. Administrative struggle for access to offshore resources 14
Chapter 3. Foreign companies on the Russian shelf 29
Chapter 4. Awaiting fiscal revolution offshore 37
Prospects of medium-term developments 48
Date of release: May 27, 2013

If you are interested to obtain please contact » Elena Kim

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Analytical series “The Fuel and Energy Complex of Russia”:

State regulation of the oil and gas sector in 2018, prospects for 2019
Gazprom on Path to New Reality
Looking for Best Tax Treatment of Oil and Gas: Fiscal Experiments Continued
The subject of taxation became the absolute hit of 2018. The government once again decided to rewrite the rules of the game. President Putin’s new inauguration decree served as the main pretext. It turned out that about 8 trillion roubles extra was necessary for the new national projects announced. The Cabinet did not take long to decide where the funds should be taken. The result was acceleration of the so-called tax manoeuvre started as far back as 1 January 2015. It suggested shifting the tax burden to the wellhead: the effect on the state budget of gradual abandonment of the export duty will be more than compensated for by quicker growth in mineral resources extraction tax (MRET). The laws on tax reform have already gone through the parliament and will take effect as of next year. This means nothing good for companies.
Results of Pivot to the East in Oil and Gas Sector
New government structure and FES: Reformatting the state system administrating the sector

All reports for: 2015 , 14 , 13 , 12 , 11 , 10 , 09 , 08 , 07

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