RusEnergy

MOSCOW, February 25 (RIA Novosti) - "Foreign companies are showing a high interest. The countries that lead in exploring the shelf are interested in taking part in consortiums together with us (Russian companies) in Russian shelf projects," said Russia's Natural Resources Minister Sergei Trutnev, as he spoke during government hour in the Federation Council on Friday. The minister noted that the companies are prepared to take part in projects as minority shareholders. On the day before Trutnev said that the Russian government was planning to examine in May a state strategy for the exploration and development of the oil and gas potential of the continental shelf. "Priority in developing the shelf will be given to consortiums," the minister said. In his view, only consortiums can look to attract considerable investments to projects to develop the Russian shelf. The head of the ministry noted that the Russian shelf concentrates an estimated 20 billion tons of oil. Trutnev also said that big deposits put into operation before 2010 will contribute a great deal to GDP growth. "We chose 17 biggest deposits which are not developed and calculated their contribution to GDP before 2020. Estimates put their effect in GDP growth before 2010 at 24%," the minister said. On Thursday, at a cabinet meeting, Russia's Economic Development and Trade Minister German Gref said that he saw in the law on subsoil use a possibility of increasing GDP. "We spotted in the law on subsoil use several percentage points (of increasing) GDP, and if Natural Resources Minister Yury Trutnev has his hands untied, then we will get in the future a good impulse for the economy," Gref said. The minister pointed out that legislation on subsoil use makes it possible to go over to a new concept of mineral exploitation. "The Ministry of Natural Resources is now concerned with a bill and is on the verge of submitting it to the government," said the economic minister.