The Ministry of Natural Resources, together with the State Reserves Commission (GKZ), submitted a draft of a new classifier to the Ministry of Finance. This initiative aims to systematize the approach to technologically complex deposits and stimulate their development.
The main goal of the new classification is to clearly identify reserves, the development of which today requires special technologies or is unprofitable under current conditions. As the head of the State Reserves Committee, Igor Shpurov, clarified, the mere fact of being included in this list does not automatically give the right to tax benefits. However, it creates a transparent basis for further decisions.
Until now, there has been no uniform approach in the legislation to the definition of hard-to-recover reserves (TRR). Experts relied on different criteria, which hampered investment and production growth. The new system brings together key factors. Geological factors include low permeability of formations, high viscosity of oil or low thickness of deposits. Economic factors include unprofitability with current technology and taxes. Distance from infrastructure and difficult climatic conditions.
The introduction of the classification will revitalize resource development projects that currently remain in the shadows. We are talking about the fields of the Bazhenov formation, the Achimov deposits and deposits with high-viscosity oil. These objects constitute a significant share of the country’s resource base, but their development was economically unprofitable.
The new classifier will become an important tool for government planning and attracting investment in the oil and gas sector. It will set clear guidelines for companies ready to develop high production technologies.
Source:@neftegazchannel
