Arkady Dvorkovich: The meeting concerning the Russian continental shelf's development has just ended. We have discussed all disputable and problematic issues. We have also agreed on most issues in principle. But it is still necessary to finalise the specific mechanisms for implementing the proposals that have been voiced regarding a number of issues.

First, as regards issuing licences following Gazprom and Rosneft's applications... Gazprom licences are passing the stage of agreement between federal executive bodies. We do not see any major problems in this regard. These licences will likely be issued in the foreseeable future.

As for Rosneft, it sent a letter to the Government today. The letter discusses making the necessary adjustments to perform a greater amount of work that they have proposed to implement under the licence agreements. According to Rosneft, these adjustments will make it possible to reach the parameters and the levels that were earlier set by the Ministry of Natural Resources. The figures will be verified and the Prime Minister has ordered to issue the relevant licences if the calculations are sound. In fact, this was our initial position... If our proposal on development parameters has been met, then we are ready to issue these licences. I hope that this will happen in the short term. We have thanked the company for its understanding and its readiness to implement the required volume of work.  

The companies and all of the meeting participants have agreed that various firms could conduct multi-client seismic surveys. There are different points of view as to whether these firms should be state-run service firms, or they can also be private firms. We will finalise this issue and take the relevant decision. In principle, though, the circle of companies involved could be wider and a mechanism of payment for their services should be approved. So far this mechanism has not been finalised either. This work should be concluded.   

As regards returning some sites or parts of fields to the undistributed fund... The mechanism is there and companies are using it. Companies are taking the relevant decisions on their own. The ministries have proposed a different pattern, according to which they must return parts of the fields after the expiration of the period set by the law or included in the licence agreements. There are still divergencies and differences of opinion, but the return mechanism should exist. The Prime Minister has issued instructions to analyse the mechanism once again and to submit proposals regarding whether or not changes are needed. If a field has been returned, then there is the option to keep the relevant field licences within the undistributed fund or to tender them. The proposal has also been made to auction these fields or to sell them through a different method, and then to issue licences or to form consortiums with a public stake and with the participation of private companies that may receive these licences. When we mention private companies – I would like to stress – I am only referring to national companies that can have licences, and not foreign companies. 

And the last point... The decision was made regarding the economic model of field development. The Prime Minister has formulated this model. The model should be universal. There should not be differences between the work conditions on existing fields under previously issued and newly issued licences... This is the final decision. It cannot be revised, I think. 

We have also discussed a number of other issues related to environmental security, technical regulations, and antiterrorist security. There are no differences on these issues. We have taken decisions on all of these matters. We will continue to work. These are the results... If you do not have any additional questions, I give the floor to my colleagues.

Alexei Miller (Gazprom Chairman of the Board): You said that the situations concerning gas and oil differ?

Arkady Dvorkovich: I will answer Mr Miller’s question. We have made this point clearly. The Gazprom chairman of the board has stated this, and the meeting participants have also said that the situations differ on the gas and the oil markets in respect to the balance of resources, the growth of reserves, yearly production levels, and global market conditions. Primarily, the demand determines everything in the gas sector. Given sound demand, production continues and extensive exploration is conducted. If there is no demand, production and exploration volumes could be lower. This occurred last year, by the way. As for oil, everyone wants a considerable build-up of the oil reserves. There is no doubt here – no uncertainty – compared with gas production. Thus, the licensing conditions and the commitments of companies operating in the gas and the oil segments may differ. A uniform model will not be used for the oil and the gas markets. Thank you.