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News // Politics

Russia Welcomes Foreign Oil Firms: Government

15 February 2005 , 10:02472
Russia's natural resources minister Yuri Trutnev said Monday that Russia welcomed foreign companies to help develop offshore oil fields.

Meanwhile, also on Monday, a senior U.S. diplomat expressed concern about the Russian govetnment?s last week statement that foreign access to oil and gas deposits would be limited.

"Without foreign investment it will be difficult to develop the shelf," the Interfax news agency quoted Yuri Trutnev as saying.
He added consortiums including Russian and foreign companies could develop deposits on the shelf, which he said would be crucial for maintaining production after 2015.

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