“Gazprom Neft” complained about the inefficiency of the work on the shelf without benefits

“Gazprom oil” it is not profitable to invest in exploration of offshore fields, reads the letter of the Deputy Director General for development of offshore projects “Gazprom oil” Andrei Patrushev, the Ministry of the environment. A copy of the document was available to “Vedomosti”.

In the appeal, on the ability of companies to invest in exploration and offshore had a negative impact of the tax maneuver, the sanctions and lower oil prices. If earlier it was supposed that incurred one of the companies of the group costs of exploration of the shelf could be deducted from the tax base of other group companies extracting hydrocarbons on the shelf too, now this option disadvantageous, Patrushev says.

As an alternative, he offers to carry the cost of exploration of the shelf on the tax base of the entire group. As explained to the publication senior analyst of “Aton” Alexander Kornilov, in fact, it means that “Gazprom oil” proposes to calculate the tax deduction to the tax on profit to the entire company, and not separately to its operating offshore “daughters”.

The Minister of natural resources Sergey Donskoy, in turn, notified the government about the company’s position, its letter (a copy of the letter is also available at the disposal of “Vedomosti”). The Finance Ministry is the initiative of the company has not responded, and the Mayor believes that it is necessary to reconsider the question of granting the right to deduct the cost of geological and exploration work in the calculation of the mineral extraction tax.

“We are working on creating additional conditions for inflow of investments in exploration on the shelf”, — said the representative of the Ministry of environment, confirming the authenticity of both letters.

In the spring of 2015 the Ministry of environment asked the government to suspend the issuance of licenses to companies for work on the shelf, assuming there is a private company. However, in December of last year, don said that “active discussion” of the issue of liberalizing access to the shelf in the government is suspended.