The shelf of Eastern seas is one of the critical hydrocarbon deposits

18 november 2013 | KP

The Ministry of Natural Resources and Environment of the Russian Federation says the UN Outer Continental Shelf Subcommittee recommends assigning the 52 thousand square kilometers enclave to our country, with the Russian legislation applicable on-site. The final UN resolution is to be adopted in early 2014.

Alexander Kurdin
Alexander Kurdin
Department for Strategic Studies in Energy

The shelf of Eastern seas is one of the critical hydrocarbon deposits, said Aleksandr Kurdin, the expert of the Analytical Center, who discussed this with Komsomolskaya Pravda. High complexity and cost of projects make me doubt oil and gas field development there is cost-effective, said Kurdin. On the other hand, he believes Russia is running out of traditional oil and gas resources. 'So we need such territories. In addition, if we are the legal owner of this shelf, we will be able to attract foreign investment there', says Kurdin.