Russian state bodies to invest 320 billion rubles into geological exploration through until 2030

The state plans to spend at least 320 billion rubles for geological exploration through until 2030. This was stated by the Prime Minister of the Russian Federation, Dmitry Medvedev a few days ago.

This year, 35 billion rubles are planned to be spent for this purpose, in 2013, the amount was 32 billion rubles. "In order to rationally spend the money, the concentration of geological exploration in the most promising regions of the production is provided. The capital intensity and technological effectivenes of the producing industry are constantly growing, the investments in geological exploration of difficult oil and gas reserves require special conditions, including the simplification of licensing and control procedures, provision of tax incentives.