Russia's 2016 Offshore Oil Output to Grow by 11.5%

Russia's offshore oil production will grow by 11.5 percent this year to reach 21.3 million metric tonnes (23.5 tons) this year, Deputy Energy Minister Kirill Molodtsov said Wednesday.

ST. PETERSBURG (Sputnik) — At the Offshore Marintec Russia forum in St. Petersburg, Molodtsov said:

"Offshore, we will raise oil production in 2016 by 2.2 million tonnes, which is 11.5 percent."

Russia reached record-setting output of more than 11 million barrels per day early last month, with 11.1 million barrels per day expected in the near future after launching new fields.