Oil Reserves106.2 billion barrels
Oil Production11,25 million bopd
Gas Reserves35 tcm
Gas Production635.6 bcm
Russia: Unconventional Directions
With a hydrocarbons landscape consisting mostly of ageing oil and gasfields, Russia is funnelling its efforts into further development of brownfields and the exploration of unconventional greenfields that were previously not viable. With the world’s second-largest natural gas reserves – estimated at 35 tcm (1,235 tcf) – Russia is also the second-largest producer of dry natural gas, with an output of 635.6 bcm (22.4 bcf) in 2017.
Most of Russia’s production remains dominated by domestic firms, the largest being Rosneft and Lukoil. Following the collapse of the Soviet Union, Russia initially privatised its oil industry, but its oil and gas sector has since reverted to state control.
Technological development and co-operation with foreign companies are reinvigorating Russia’s manufacturing industry. New techniques are extending the lives of Russia’s ageing oilfield equipment, yet domestic manufacturers often lack the capacity to develop the requisite technologies. This has provided a market for companies from abroad to meet Russia’s evolving technological demands.
Republic of Tatarstan oilfields and infrastructure 2020 Russian Edition
Russia has commenced gas flows to Greece and North Macedonia through the TurkStream natural gas pipeline system.
Bulgaria’s Bulgartransgaz made the announcement on…READ MORE
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