Prime Minister Dmitry Medvedev has signed a directive on building four manmade islands on the Kola Gulf on the Barents Sea as part of the Centre for Construction of Large Marine Facilities investment project. The directive was published on the government website.  

The agreement on building the manmade islands was concluded between Rosmorrechflot and OOO Kola Shipyards (a subsidiary of OAO Novatek) without an open tender.

"This will create around 10,000 jobs, increase tax revenue into the budget at all levels, bring new investment into the region and develop new high-tech production facilities," the directive says.

The reference document accompanying the directive states that the centre will be used for building marine facilities for production, storage and handling of liquid natural gas and stable gas condensate. This will include gravitational types of equipment, marine production equipment, and also repair and servicing of marine equipment used to develop offshore oil and gas condensate fields.  

Carrying out the project to develop the centre and its planned facilities requires the construction of the proposed manmade islands in the Kola Gulf. OOO Kola Shipyards will cover the project's costs through its own funds. The project's cost is estimated at more than 25 billion rubles.

OOO Kola Shipyard has received the necessary permission from Rosmorrechflot for building the manmade islands in this location.