German Gref said deposits that were already at least 80% depleted would be taxed up to 70% less than the standard rate of the severance tax, which would allow the country to produce another 15 million metric tons (300,000 bbl/d) of crude in 2009.
After singling out regional producers Tatneft and Bashneft as particular winners - 90% and 60% of their deposits fall under the new regulations - Gref said every producer was likely to benefit.
"The remaining oil companies will use this [tax] break to one extent or another," the minister said.
With construction of a $11.5-billion pipeline from East Siberia to potentially lucrative Asian markets under way, Gref said the differentiated severance tax, as well as government plans to introduce tax holidays of up to 10 years for producers in East Siberia, were designed to encourage stagnated crude production.
He said 54 million tons of oil produced in the country fell under this category now and the figure would rise to 63 million tons in 2009.
Experts have suggested the federal budget will lose 21 billion rubles ($770 million) from this measure in 2007 and 27 billion rubles ($990 million) in 2009.
