Crimean authorities discuss potential of the peninsula in oil and gas production

The Minister for Crimean Affairs, Oleg Savelyev hasn’t ruled out the future IPO of Chernomorneftegaz. This measure can help the growth of the domestic production of hydrocarbons in the Crimea.

According to the Minister, currently potential of the peninsula in the oil and gas production is discussed.
"The increase in the domestic production is a considered task, which will require significant investments. But these investments can’t be made through the federal budget. Therefore, the creation of certain conditions, on which we count for private investors - which, incidentally, may be related to potential IPO of Chernomorneftegaz - will lead to the raising of the issue of their own oil and gas production," - the RIA Novosti cites Saveliev.