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OPEC deal won’t affect fulfillment of license obligations by Russian companies — minister

Логотип TASS TASS 05.06.2017 TASS

MOSCOW, June 5. /TASS/. The oil production cut agreement between OPEC and 11 countries outside the cartel, including Russia, will not affect the fulfillment of license obligations by Russian companies, Natural Resources Minister Sergey Donskoy told reporters.

At the same time Russia’s Natural Ministry has no plans to change the licensing terms for development of fields because of production reduction agreement between the countries.

"We do not plan (to change licenses - TASS). We have worked out a procedure for companies - if they plan to change production levels or other data on their technological projects, they simply need to contact the State Commission on Reserves. The Commission will need to consider their proposals and make a decision," Donskoy said.


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