Putin signs law on benefits during production of hydrocarbons in the Sea of Japan
It is expected that the implementation of the law will help to maintain and to increase the volume of oil, extracted from fields with difficult to extract reserves. This will happen due to economically viable use of innovative technologies.
The Russian President, Vladimir Putin has signed a law that establishes incentives for hydrocarbons production in the Sea of Japan; the corresponding document is published on the official website of legal information.
The MET rate of 15% is set for hydrocarbons, extracted from new offshore fields. The exported hydrocarbons are also exempted from the corresponding duty. The rate must come to force no later than on March 31, 2032, but it can be used during seven years from the start of the commercial production.
