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Monday, October 01, 2007

Insufficient investment in Eastern Siberia's resources exploration

RBC, 01.10.2007, Moscow 13:10:05.Investment in hydrocarbon exploration in Eastern Siberia is currently 4 to 5 times below the required level, Natural Resources Minister Yury Trutnev told a press conference held by RBC today. He noted that resource development in Eastern Siberia was inadequate, which was linked to the absence of basic infrastructure. In particular, the construction of the Eastern Siberia - Pacific Ocean oil pipeline is expected to attract investment in the exploration of the region. According to Trutnev, the Ministry has approved plans of exploration and production companies as to the scope and rate of exploration of Eastern Siberia's reserves.

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