Rosnedra told how long Russia will have enough gas and oil

MOSCOW, 28 Sep — PRIME. Technologically recoverable gas reserves in Russia will last for 62 years as of 2022; profitable oil reserves – for 33 years, and technologically recoverable – for 39 years, said the head of Rosnedra Evgeny Petrov.

The Ministry of Finance named the volume of expected revenues from the mineral extraction tax on oil

“As of January 1 this year, we have 39 years of technologically recoverable oil reserves. This is what we can produce using today’s technologies. Profitably recoverable reserves are 33 years old. This is what can be sold right now at end-of-line prices. 2021. The availability of technologically recoverable natural gas reserves is 62 years,” he said in an interview with Rossiyskaya Gazeta.

The head of Rosnedra emphasized that these data are relevant at the beginning of this year and largely depend on specific market and technological parameters. “Something has happened in the world, the price of oil has risen, and, accordingly, the supply has grown. And vice versa. Technologies, their cost and availability play an equally important role. For example, the development of technologies makes it possible to more accurately carry out horizontal penetration during drilling, reduce which will multiply the recoverability of reserves and increase the profitability of production,” he said.

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At the same time, the share of hard-to-recover reserves (TRIZ) continues to grow in Russia. In 2020, TRIZ accounted for 43% of all oil production in the country, Petrov noted. Moreover, the share could be higher, but the Russian Federation fulfilled the agreements to reduce OPEC + production.

“Now there is a general trend towards an increase in production from deposits that are subject to benefits in our country. But TRIZ is an economic parameter that depends on a combination of factors, primarily on the cost of the technologies we use. Naturally, over time, the parameters for classifying reserves as TRIZ is changing. Since 2012, the share of reserves involved in the development that fall under benefits has increased by 66 million tons,” the head of the department added.

Petrov noted that the Russian oil industry needs to focus on the development of domestic technologies, which will just transfer such reserves from hard-to-recover reserves to traditional ones, so that their development would be profitable in the current tax regime by reducing the cost of technologies. And here, the head of Rosnedra believes, the task of the state is not just to ensure the level of production, but to support the development of technologies, rational, maximum use of mineral resources both for the country’s budget in terms of taxes and for business.

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