Investment Boom in Tyumen
08 Apr 2004
The Tyumen Region ranks third in the Russian Federation, after Moscow and St. Petersburg, by investment volume. Investments into the fixed assets have grown by 22% during the last two years, at the expense of all sources of funding. These are largely domestic investments made by enterprises of the region, but partially budgetary funds - a new production support method, by subsidies to investment projects, started to be applied. A measure that will help raise investment flow is target finance of the most efficient projects. Presently, TNK-Uvat, a subsidiary of TNK-BP, is getting down to commercial development of the Uvat group deposits, which includes 7 fields with total extracted reserves of 115 million tons of oil as well as 29 perspective regions. The need in the petroleum-rich south of the Tyumen Region and mutual interest in this development on the part of the regional administration and TNK-BP made it possible to implement the Uvat project. TNK-BP will act as investor, and the regional administration will help fund the first stage. Funds allocated by the administration will account for a lesser part of the total project cost and will enable to start its implementation. However, these costs will pay back over and above, both in monetary terms and as a series of positive social implications. Field landscaping will require significant costs, but, on the whole, is able to drastically change the infrastructure of the landscaped region. According to the project, the plan is to construct 300 km of pipelines, at least 500 km of roads, over 200 km of power lines in the Uvat region. Source: Izvestiya
|
