Russian State Duma adopts a law, aimed at stimulation of Bazhnov oil production

Formation and production of hydrocarbons at some fields.

The document specifies the conditions for the application of the coefficient, which characterizes the degree of the oil production difficulty in calculating the MET rate during the extraction of Bazhenov oil. The level of depletion of such oil deposits as one of the conditions of application of the zero coefficient, characterizing the degree of the oil extraction complexity, was increased from 3% to 13%. "This will allow us to apply the benefits for fields that are already in development," – the deputy chairman of the Committee on Budget and Taxes Leonid Simanovskiy explained previously.

During the consideration in the second reading, the deputies supported a number of amendments, tied with preferential taxation during the production of hydrocarbons at other fields. Thus, The MET rate in the amount of 15% is set for hydrocarbons, produced from new offshore fields located in the Sea of ​​Japan. It can be used during 7 years from the start of the commercial production, but not later than on March 31, 2032. Hydrocarbons, exported from such deposits, are also exempt from export duties. Thus, the MET benefits that are available now for offshore projects will apply for hydrocarbons, produced in the Sea of ​​Japan.