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I. Sechin: by 2015, investments in Rosneft’s Far Eastern projects will increase to 79 billion rubles

Prime Minister Dmitry Medvedev believes that the selection of investment projects in the Far East must take into account the difficulties due to the high capital intensity, the long payback period of such projects and the lack of infrastructure, so the effectiveness of capital investments in the Far East is lower.

Working visit of Dmitry Medvedev to the Far Eastern Federal District. Archival photo

© RIA Novosti. Dmitry Astakhov | Buy an illustration

"During their implementation, a lot of difficulties arise due to the high capital intensity, long-term payback of such projects, plus in the Far East the investor is forced to bear additional costs in the construction of the necessary transport and energy infrastructure, therefore, all other things being equal, the efficiency of capital investments here, unfortunately, is still objectively lower than in other Russian regions, I mean for comparable projects. Therefore, we must take this into account when selecting projects for financing under the state program of socio-economic development, "Medvedev said at a meeting of the government commission on the development of the Far East ...

The prime minister recalled that the amount of approved funding for this program until 2020 is 346 billion rubles.

"At the same time, the amounts actually allocated this year are much more modest, and, naturally, should be increased with any additional opportunity," he said.

The head of government also noted that the Far East is interested in investors from the countries of the Asia-Pacific region, and said that in a couple of weeks he will hold a separate meeting devoted to the Asia-Pacific vector of Russia's development.

 Rosneft's investments in the Far Eastern Federal District from 2011 to 2013 increased from 19 billion rubles to 37 billion rubles, by 2015 it is expected to increase to 79 billion rubles said at a meeting of the government commission for the development of the Far East the president of the company Igor Sechin.

In addition, Rosneft plans to allocate 2014 billion rubles for geological exploration on the shelf of the Far East in 2018-112,

In the period until 2030, Rosneft intends to increase the volume of investments in the Far East by more than three times compared to the previous period, the head of the company, Igor Sechin, said at a meeting of the regional development committee.

"Promising projects in the event of their full implementation, and this is, first of all, tax stabilization, create the preconditions for the entire Far East for new qualitative growth. The average annual volume of the company's investments in the period up to 2030 increases compared to the previous period (until 2020) by more than three times and will exceed 1 trillion rubles a year, "Sechin said.
"We are also considering the implementation of various projects in the social sphere of the Primorsky Territory," Igor Sechin said at a meeting of the government commission on the development of the Far East and the Baikal region.

The main topic of the meeting is the selection of investment projects for their subsequent inclusion in the federal target program for the development of the Far East and the Baikal region. 


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