The Yakut Arctic may become a center of oil production, but this promising venture requires certain investments from the state, said the head of the republic Aisen Nikolaev.
"Today, the prospective oil reserves in the Arctic and Yakutia are estimated at just under a billion tonnes. At the same time, however, it is too early to say that the deposits have already been discovered and can be commissioned," he said.
Nikolaev expressed the hope that the intensification of exploration in Yakutia in the coming decade will lead to the emergence of the Arctic Yakut oil production center.
Alex Shishlo, Editor in Chief of the European Bureau,, Rough&Polished
