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    HYDROCARBONS RESERVES CLASSIFICATION PROGRAMME TO BE APPROVED IN MARCH

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    MOSCOW, MARCH 3, 2004. (RIA NOVOSTI). The oil and gas reserves classification program worked out by the natural resources and economic development and trade ministries has been completed and will be approved in March, said acting deputy natural resources minister Pyotr Sadovnik at the all-Russia energy forum "Fuel and Energy Complex of Russia in 21st Century".

    According to the minister, the volumes of explored oil and gas reserves should exceed their production by 50%.

    Sadovnik pointed out that the share of difficult-to-extract raw materials, which had reached more than 50% of late, would increase in Russia. Geological prospecting should be intensified and the functioning deposits more efficiently developed for increasing the oil and gas production.

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