Data declassification on subsurface resources will raise capitalisation of Bashkir oil companies

Elvira Latypova

Prospective data declassification on in-situ resources will raise capitalisation of Bashkir oil companies, the President of Bashkortostan Rustem Khamitov considers. «We can use this mechanism for maintenance of investments growth into the republic», the head of the republic said at the session of the Public Council on investment climate improvement on Tuesday.

The President of Russia Vladimir Putin named the security classification on reserves as «obvious anachronism» at the session of the commission on fuel and energy complex. He marked that archaism of the procedure conducted to undervaluation of reserves and negatively affected investment appeal of subsurface resources. «There should be a clear cost of assets», RBC daily quotes Vladimir Putin.

#subsoil reserves #declassification

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