MOSCOW (Sputnik) — To keep its gas production volume until 2030, Russia has to explore its Arctic shelf, Federal Agency for Management of Mineral Resources said in its Strategy for the Development of the Mineral Resources Base up to 2030 on Monday.
"To sustain the natural gas production level at 800 billion cubic meters and more, it will be necessary to carry out geological exploration and gradual development of new regions, first of all, the Arctic shelf region which is rich in natural gas," the statement said.
The statement lists a number of measures expected to boost the attractiveness of the geological exploration for investors, including legal and economic incentives.
The document also put a strong emphasis on full exploitation of the existing production areas and beginning work on new wet gas fields. Wet gas has a higher percentage of heavy hydrocarbons.
