Russia Arctic, tight oil tax work slips into Oct-Deputy PM
MOSCOW, Sept 24
MOSCOW, Sept 24 (Reuters) - A Russian government debate on tax breaks for frontier oil projects, required to proceed with Rosneft's exploration deal with ExxonMobil, has slipped into October, Deputy Prime Minister Arkady Dvorkovich said on Monday.
While still serving as prime minister, President Vladimir Putin ordered previous government to prepare stimulus measures for drilling projects in Russia's harsh Arctic offshore zones and "tight" oil formations by October 1.
The tax policies need to be in place on schedule to proceed with the Rosneft-ExxonMobil deal, though Dvorkovich said he expected no adverse impact on the deal from the delay on tight oil policy.
"In any case a tax regime will be created which will make output from fields with tight reserves more favourable and profitable," Dvorkovich told reporters.
He said LUKOIL is also likely to receive tax breaks on its Caspian projects, one of which is producing, while the second is due for launch in 2014.
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