Oil reserves107.8 billion barrels
Oil production10.7 million bopd
Gas reserves37.4 tcm
Gas production638.5 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.
The war in Ukraine has renewed European interest in investing in African oil and gas projects, according to a report from…READ MORE
National Iranian Oil Company has signed an MoU with Russia’s Gazprom to develop key oil and gas assets in Iran, the NOC…READ MORE
Russia reportsMore reports
Emmanuel Katongole, chairman of Uganda National Oil Company (UNOC), talks to The Energy Year about the company’s plans to grow…READ MORE
Republic of Tatarstan oilfields and infrastructure 2020
Oscar Mendoza, gas director for Mexico and Central America of Gasoductos y Estaciones del Norte (GENSA), talks to The Energy…READ MORE
Nigerian Minister of State for Petroleum Resources H.E. Chief Timipre Marlin Sylva talks to The Energy Year about plans to restore Nigeria’s status as a leading oil…READ MORE
WHOSE PLATFORM IS THIS?
- Do you have a question for The Energy Year about oil and gas?
- If we know, we’ll tell you.
- If not, we’ll ask the experts in the field.