Russia announces oil and gas reserves
How many more years will Russia's oil and gas reserves last at current production levels, said the head of the Russian Ministry of Natural Resources, Alexandr Kozlov.
In his opinion, the supply of all oil reserves in Russia at current production is 59 years, natural gas 103 years.
“The guarantee of all oil reserves at existing production is 59 years, natural gas 103 years. But we understand that this is a general balance of fields. Somewhere there are fields that are being released and there are fields that are not yet at full capacity,” Kozlov said.
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| Russian gas preparation and transportation complex. Photo: Ria Novosti |
In any case, it is necessary to develop geological exploration, including in hard-to-reach places. We are faced with the task of ensuring the operation of the Northern Sea Route, hydrocarbons will become its main base,” the Minister stressed.
Maintaining the cost of developing hard-to-extract oil is a tough job, he noted.
“We are supported by the cost of the final product. Our foreign partners do not allow us to use certain technologies,” Kozlov said.
“But the development of technology in Russia contributes to the creation of many new jobs, because a lot of people work in the industry, not only in production and processing, but also in related areas, such as oilfield services. And the state supports our companies by taking on part of the obligations, for example, geological exploration,” Kozlov said.