Proven oil reserves in Russia will last until 2044
At the present rate of proven reserves of oil enough to Russia in 2044, he said in an interview to “Rossiyskaya Gazeta” the head of the Ministry of Natural Resources Sergey Donskoy.
The minister also warned that the total volume of reserves is now a growing share of hard-to-oil, and the development of such fields is additional complexity.
“Putting them in the development associated with low economic efficiency and requires the development of technology. While rates on them are slim selection. Without new discoveries of conventional mining stocks will start to decline from 2020. Will increase the share of hard-to-oil projects seriously worsen the economy “, – said Don.
In this regard, the Minister stressed the importance of prospecting and exploration of new fields, even in conditions of low oil prices and assured that the authorities intend to maintain the leading exploration company.
In particular, it is proposed to introduce a simplified procedure for issuing licenses for the search for oil and gas on the basis of the bidding principle extend under application principle for subsoil with predicted high resource categories for all types of minerals, increase the maximum area provided by the subsurface area from 100 to 500 sq. m, and the maximum number of sites for one applicant – from three to five.
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