RUSSIA DEVELOPING ARCTIC
Russia to continue implementing Arctic oil and gas projects despite Western sanctions and low oil prices, Russian Energy Minister Alexander Novak said.
"We will continue developing the Arctic shelf, as it is our strategic resource," he said.
Shelf development is a long and costly process. Geological exploration alone will take years, and drilling will cost tens and hundreds of millions of dollars, he said.
Despite falling prices for raw materials, companies should maintain their investment plans not to lose what is done. "They must continue drilling…
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