Russia to invest 320 bln roubles into oil sector

​The investment into new oil deposits in the coming 30 years will be comparable with the construction of new nuclear submarines or 3 gas pipelines to China. The Ministry of Energy has assessed the investment into new oil deposits until 2045 at 320 bln roubles, is said in the report of the agency.

It is about new oil deposits in the Eastern Siberia and Northern Caspian.

The development of the existing extremely expensive Arctic deposits, high-tech geological exploration works and works at the shale deposits like the Bazhenov Suite are meant under new deposits, I. Capitonov said. All these objects require significant investment, particularly on the background of import-replacing programs in the oil and gas sector, he adds.

The new gas pipeline Power of Siberia might cost about 100 bln roubles. It means that until 2045 Russia plans to invest into new oil deposits funds comparable with the construction of at least 3 similar global projects.