The Russian government favors applying a universal approach to tax breaks for Russian subsoil companies developing fields in the Caspian Sea, Deputy Prime Minister Igor Sechin said according to Interfax. "We are in favor of finding some kind of universal solution so that we do not jump around from field to field", Sechin said. At the same time, he stressed that an entire range of work, including refining and transport and so on should be taken into consideration along with production when drafting a solution.
He pointed out that LUKOIL had started developing the Korchagin field and made "Serious investments in developing the field", while the field would only be profitable with oil prices above $80 per barrel. "Of course we should take that into account", Sechin said. "Privileges are the easiest route. Of course we should react to requests from our subsoil companies", the deputy prime minister commented.