The volume of oil reserves on the Russian offshore shelf will be enough for 32 years of production, and gas for more than 130 years of production, Russian Energy Minister Sergei Tsivilev said.
"We have large reserves in the Arctic. The explored volumes are about 17 billion tons of oil. Even producing oil offshore, even at the volumes we are currently producing, it is 32 years. It will be enough for us to extract these volumes only on the shelf. And we have 85 trillion cubic meters of gas offshore. With the volumes that we are currently producing, (it is) more than 130 years," Tsivilev said.
He spoke at the session "Fuel and Energy Complex of Russia: the future begins today", organized as part of the Russian Energy Week in Moscow, ria.ru reports.
Alex Shishlo, Editor in Chief of the European Bureau, Rough&Polished
