Reserves of shale oil in Bazhenov group to be estimated at 11-22 billion tons

Today, reserves of shale oil in deposits of the Bazhenov formation are estimated at 11-22 billion tons, the Russian Energy Minister Alexander Novak stated at the 22nd World Energy Congress in the Korean city of Daegu.
 
"We hope that we will be able to stabilize the production of hydrocarbons in western Siberia in the long term due to the measures of government incentives. Today, the recoverable reserves of the Bazhenov formation’s deposits are estimated today at 11-22 billion tons. Therefore, we don’t doubt in the foreign trade competitiveness of the Russian oil and gas industry," - the Minister said.
 
On the whole, measures on promotion of hard to recover reserves production (HRR) will allow Russian companies to additionally produce about 326 million tons by 2032.
 
"According to our plans, measures to stimulate the production of HRR will allow Russian companies to additionally produce about 326 million tons of oil by 2032," - the Minister said. He recalled that last year comprehensive tax reform was carried out in Russia, implemented the reducing coefficients of MET for the HRR production.
 

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