the development of the shelf is supposed to allow not only private Russian and foreign companies, provided that their activity will be carried out on the basis of agreements of the consortium with a company who will work on behalf of the government of Russia.

the Powers of the company-the agent proposes to transfer to the development Fund of the Far East and the Arctic (FRD), whose sole shareholder is state Corporation “Bank.Of the Russian Federation”. Mandatory requirements for the conclusion of such agreements is spelled out in the bill. One of the conditions is that the share of agent of the Russian Government, the agreement will be at least 25,1% (blocking stake in the consortium).

the company’s Share-agent in the consortium may be increased depending on the projected production of hydrocarbons in oil equivalent. The higher the volume of projected production, the greater proportion of the agent of the Government. At production to 420 million barrels per year – share of an agent is 25.1%, from 421 to 700 million barrels to 27.6%, from 701 to 980 million barrels to 30.1%, from 981 million to 1.26 billion barrels – 32,6%, in the extraction from a low of 1.26 billion barrels of 35.1%.

the bill is expected to be extended for subsurface sites are not distributed until 2021. For licenses acquired prior to this time, the changes are not provided.

Now on the Russian shelf can only work company with state participation more than 50% (“Rosneft” and “Gazprom”). Their right to involve private companies, including foreign ones, is not limited, but due to sanctions against Russia in relation to the development of the Arctic shelf joint projects has been suspended.