Russia's oil reserves in eastern Siberia are rapidly declining
In Russia, oil reserves produced in the fields of Eastern Siberia are rapidly declining. If the current situation continues, then by 2024 production will be reduced by 17% of the current volume, and the budget will lose 1,5 trillion. rubles of export income.
Reedus writes about this with reference to research by Vygon Consulting, a PolitNavigator correspondent reports.
At the same time, the development of a field in Western Siberia, which is called the Bazhenov Formation, can save the situation and even make a kind of revolution in the oil market. Its reserves are estimated at about two trillion barrels, but so far there is no technology to begin profitable industrial development of the largest field. If such technologies are found in the medium term, then, according to opinion, a real “shale revolution” will occur.
“Russian companies are now trying to come up with such technology on their own. If it works out, and the industrial development of the Bazhenov formation becomes profitable, it will be a breakthrough comparable to the shale revolution,” the publication writes, citing Igor Yushkov, an expert at the National Energy Security Fund.
Previously, Russian economist Mikhail Delyagin said that 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.
At the same time, PJSC "Ukrnafta" began to curtail oil production at 13 fields in the Naddvornyansky district.
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