Russia needs foreign investment to develop oil and gas resources, Russian minister says

摘要

Russia should seek investment from foreign companies to help develop its offshore gas and oil reserves as domestic companies lack the means to go it alone, natural resource deputy minister Sergai Donsokoi said. Casting doubts on whether Russian companies are capable of financing large-scale offshore oil and gas development projects alone, Donsokoi said: “It should be admitted that these companies don't have enough strength and money to work out these tasks." Russia’s natural resource ministry has proposed measures to stimulate offshore upstream works, including attractive interest rates for loans from domestic lenders.