Monday, October 13, 2014

Response to the sanctions would be the transformation of the “Rosgeologiya” in a state corporation – Lenta.ru

Response to the sanctions would be the transformation of the "Rosgeologiya" in a state corporation – Lenta.ru

The response to Western sanctions against the Russian oil industry will be the creation in Russia of another state corporation. This is necessary to ensure the independence of the country in the field of exploration. Corporation plans to establish on the basis of state-owned “Rosgeologiya.” Russian President Vladimir Putin has approved the idea, said on Monday, Oct. 13, RBC.

A letter with an offer to convert “Rosgeologiya” the head of state in the state-owned corporation on September 18 sent Deputy Prime Minister Alexander Khloponin. Putin has already put on it the resolution “I agree».

«In the context of the international situation escalated dramatically formation of a national company that provides the required level of geological and service work is a key industry challenge for sustainable reproduction of the mineral resource base of Russia in the long term perspective, “- said in a letter.

To serve the public agent of exploration work and reproduction of the mineral resource base of Russia” Rosgeologiya “will help the state corporation status, as well as the handing over of state shares in 15 exploration companies (including” Dalmorneftegeofizika “,” Sevmorneftegeofizika “and” Soyuzmorgeo “leading work on the shelf), the document says.

No additional costs from the state budget implementation of this proposal would not require. Appropriate agencies only need to develop a mechanism for the consolidation of assets on the basis of the new structure, as well as prepare and submit to the State Duma a bill meets both. Hloponin writes that this initiative was supported by the Ministry of Environment, Rosnedra, as well as the Security Council.

Deputy Director General “Rosgeologiya” Anton Sergeyev said that the status of state-owned corporation will “Rosgeologiya” more effectively the reproduction of the mineral resource base, ie, perform functions that were previously assigned to the company by the decree of the president.

Valery Nesterov, an analyst at Sberbank CIB, notes that such a status – it is, above all, the opportunity to receive government funding priority.

The head of the Ministry of Natural Resources Sergei Donskoy said in an interview to “Rossiyskaya Gazeta” that in Russia today are no companies that are willing to concentrate solely on exploration. “We need the opening of the new territories, from scratch, as in 50-60 years, when we had just mastered Western Siberia, in 70-80 years, when they came to the Arctic. Here we need a national holding company, which will take the risky step of work “, – he said. This holding, the minister said, could be just “Rosgeologiya».

The relationship between Russia and the West have deteriorated sharply due to the Crimea to Russia and the Kremlin’s policy in relation to the conflict in the east of Ukraine. March 17, 2014 the EU imposed against Russia, the first package of sanctions that would later repeatedly expanded. September 12 was adopted by the last series of restrictive measures. They affected the whole sector of the Russian economy (in particular, the energy, financial, defense and oil). Russia responded by introducing an embargo on imports of certain goods, including agricultural products from countries that have imposed sanctions against her: the United States, the EU member states, Canada, Australia and Norway.

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