Russia sees tax reform yielding 1.4-2 mln boepd new output

LONDON, Oct 9 (Reuters) - Russia aims to bring on line 1.4-2 million barrels of oil equivalent per day with new tax reforms designed to reduce the levy on future projects and codify ad-hoc discounts currently in force, Energy Minister Alexander Novak said on Tuesday.

Tax holidays extended under the packages are expected to cover 50 fields in East Siberia. The ministry estimates the moves will render profitable some develop 37 billion barrels of oil equivalent, or 20 percent of Russia's reserves.

Among them are major undeveloped fields whose licence holders say they need tax relief to put them onstream.

(Reporting by Melissa Akin; Editing by Andrew Callus)

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