Lukoil assumes fall in oil production in Russia by 2017
Edited by Rhod Mackenzie / 2014-10-23 05:57:01
Oil production in Russia can decrease by 25-70 million tons by 2017 because of lack of funding the drilling of new fields, vice-president of Lukoil Leonid Fedun said at the Oil and Gas Forum.
Russia ranks first in the world in the oil production, but has trouble with maintenance of the production volume because of fields depletion in the main oil-field region - Western Siberia. Their place should be taken by the resources of difficult and shelf deposits, but the crisis in relations with the West because of the Ukraine closed the access to technologies and capital markets to the Russian companies, and the begun decline of international oil prices jeopardizes investment in the industry.
