15 July 2013, 18:23

Russia revealed extent of oil and gas reserves for first time

нефть добыча месторождение Покачи Ханты-Мансийск нефтедобыча

According to declassified data, Russia has oil reserves of 17.8 billion tons and natural gas reserves of 48.8 billion cubic meters.

The country’s recoverable oil reserves in the C1 category (proven reserves) totals 17.8 billion tons; category C2 (preliminary estimated reserves) is 10.2 billion tons, according to data collected on January 1, 2012.

Russian Minister of Natural Resources and the Environment Sergey Donskoy said that the resource potential for these kinds of mineral resources remains one of the most significant in the world.

Revealing this vital information would help generate more investments opportunities in Russia, especially in the extraction and production of hydrocarbons, Donskoy added.

Last week, Prime Minister Dmitry Medvedev signed a government decree that removed the lid of secrecy on oil reserve data.

Voice of Russia, RT, Interfax

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