Prirazlomnoye 'gains tax breaks'

Ready for action: tow-out of the Prirazlomnaya platform last year

GAZPROM

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By Steve Marshall and news reports

 19 June 2012 10:16 GMT

Gazprom Neft is reported to have finally been granted tax breaks for its Prirazlomnoye project in the Pechora Sea, paving the way for Russia’s first Arctic offshore oilfield to start production.

Start-up of the much-delayed field had been postponed to the second half of this year, from the previous first-quarter date, as the operator’s parent Gazprom had signalled that it would not kick off production until it gained tax concessions.

Launch of the project had already been hit by cost overruns and delays to construction of the $2 billion Prirazlomnaya platform, which has been lying idle with its crew onboard at the icy field location since December after tow-out last year from the state-owned Sevmash fabrication yard.

However, the Moscow authorities have now announced…

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