Russian Far East might receive richest oil and gas fields
The RF Ministry of natural resources claims that results of investigations of the border of the continental shelf in the Arctic prove that the Lomonosov and Mendeleev Ridges are extensions of the continental shelf of the Russian Federation, the Russian Newspaper reports.
Yuri Trutnev, the Minister of natural resources, stressed that today Russia has enough evidence to bid for extension of its continental shelf borders.
"In general the recommendations of the Commission in 2002 by materials of the Russian claim boiled down to the following: first, it was proposed to provide bathymetric and navigation maps, which were absent in our claim due to their secrecy as well as to present more convincing geological data that confirms the continental nature of the Lomonosov Ridge and the Mendeleev Elevation. Besides that, on the precise coordinates of external borders of the continental shelf the Commission stated that they must be defined after final settlement of disputes on the delimitation of the shelf with Norway (on the point of convergence of external borders) and the USA (delimitation of ocean spaces in the Bering and Chukotka Seas), as well as with Canada and Denmark," stressed Mr. Trutnev.
"If our bid is approved, Russia will get a sovereign right for exploration and development of mineral and other natural resources, as well as laying underwater cables and pipes, construction of equipment and buildings on its extended continental shelf," Mr. Trutnev said.
In particular, experts estimate that it will increment the oil and gas potential of Russia by dozens of billions tons.