The Ministry of Energy and Coal Industry has taken a proactive stance in promoting the important legislative initiatives of the industry.
Igor Nasalyk with his letter has addressed the Government to support the key reforms, which are directed at attracting investments to the production industry.
The reforms include:
- simplification of the fiscal regime, implementation of a 12% royalty rate on new wells from 2018;
- deregulation: simplification of the land allotment for wells development, access to geologic information, consistent and transparent auctions;
- unification of the royalty rate on oil and condensate.
The Ministry has also spoken for the liquidation of the Central Commission for Development of Gas, Condensate and Oil Fields (CDC).