The RF Ministry of Energy predicts the depletion of oil reserves in Russia.

In December the RF Ministry of Energy has developed and submitted to the interagency coordination general scheme of development of the Russian oil industry until 2035 ("the Vedomosti" has a copy). A source in the RF Ministry of Energy confirmed the authenticity of the document. New general scheme should replace the current general scheme until 2020 (adopted in 2011). 2014 with Urals oil price of $ 80 per barrel in 2020 and $ 97.5 per barrel in 2030 was selected the basis for the analysis.

The existing fields can provide less than half of production by 2035, the rest must be obtained through the increase in proved reserves as a result of geological exploration work, according to the general scheme. It examines four scenarios: moderately favorable (favorable price conditions, the lifting of sanctions no later than in 2016, the optimization of the tax burden, etc...), the base, the minimum (lower oil prices and the preservation of the sanctions) and "plans of the company" (include the production at existing and new deposits until 2022). None of them provides for the growth of oil production (without gas condensate) compared to 2015.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer