Russian Minister Says East Siberian Oil Fields Open to Foreign Investors

Russia has no plans to limit participation by foreign investors in projects to develop its oil and gas fields in East Siberia, Natural Resources Minister Yuri Trutnev said in an interview with the Vedomosti business daily published on Tuesday, April 5.

Russia is gearing up to launch a series of tenders to sell off the rights to develop new deposits in East Siberia and the Far East. This is seen as key to future energy industry growth in Russia, the world’s top natural gas producer and No. 2 oil exporter whose crude output has stagnated in the past six months following five years of strong growth.