Russia has so much oil in the Arctic that sanctions don’t work – Delyagin
Russian fields in the Arctic are capable of producing 12 billion tons of oil and 11 trillion cubic meters of gas. This is in the future 20-30% of all oil production in Russia.
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Director of the Institute of Globalization Problems Mikhail Delyagin stated this today at a press conference in Moscow.
“In fact, a new offshore oil and gas province has been discovered in the Kara Sea - a continuation of the Western Siberian fields. The first test well not only produced 130 million tons of oil and 400 billion cubic meters of gas, but also showed that oil and gas bearing structures are larger than what is in the Gulf of Mexico, larger than the Brazilian shelf, the shelf of Alaska and Canada,” Delyagin said.
According to him, the oil in the Arctic Russian fields is ultra-light, better than Cybirian Light, roughly equivalent to the Vietnamese White Tiger. 78% of the fields will be developed by Rosneft, which is ready to invest $20 billion over 400 years.
The project is so promising that Western investors are not even afraid of sanctions.
“In essence, a breakthrough has already taken place in the credit and investment blockade regarding shelf development due to its global significance. The Dutch, Americans, Singapore and Norway are already participating in this project,” Delyagin said.
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