RUSSIA'S REVENUES FROM TAPPING OFFSHORE OIL AND GAS TO REACH $105-135 BILLION BY 2020 - MINISTER TRUTNEV

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MOSCOW, December 17 (RIA Novosti) - By 2020 the Russian budget may get between 105 and 135 billion dollars from the development of offshore oil and gas fields, Natural Resources Minister Yuri Trutnev told a regular sitting of the Maritime Collegium under the government.

This estimate comes from the strategic study of the national offshore oil and gas potential until 2020, he said.

In Trutnev's opinion, in case of implementation investments in the maritime, oil and gas, shipbuilding sectors may come up to between 70 and 110 billion dollars by 2020, the production of oil to 23-26 billion tons, gas to 90-100 trillion cubic meters.

He noted that development of the continental shelf is deemed most promising now, despite the difficulties of oil and gas production and surveying.

"In the North Caucasus 70 to 80 percent, the Urals and Volga region 50 to 70 percent, West Siberia over 45 percent of reserves of raw hydrocarbons have been depleted. Simultaneously, such reserves on the continental shelf come up to over 136 billion tons of conventional fuel," Yuri Trutnev said.

Under the strategic study, before 2010 it is planned to auction 32 blocks totaling 240,000 square kilometers with 9 billion tons of conventional fuel from different shelves. According to the ministerial forecast, in this case only one-time revenues from auction payments will reach five billion dollars.

Trutnev noted that the biggest promise is held by the Barents, Pechora, Okhotsk, Sakhalin and Caspian shelves.

To him, inputs in this strategy will come up to 1 to 1.2 billion dollars. "Ports, vessels, pipelines will be required to efficiently implement the strategy," Yuri Trutnev said in conclusion.

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