Oil production at Arctic shelf costs $30 to $100 per barrel, RF Ministry of Energy says

Oil production at Arctic shelf costs $30 to $100 per barrel, IAA PortNews journalist cites Aleksei Teksler, Deputy Minister of Energy of the Russian Federation, as saying at the St.Petersburg International Economic Forum (SPIEF-2015). 

According to him, the cost of production depends on numerous factors: sea, production volumes, climate hardness at each specific location.