Russia's Profitable Oil Reserves Will Be Sufficient for 32 Years
Russia's profitable oil reserves will be sufficient for 32 years. This was stated by Russian Deputy Prime Minister Alexander Novak during an open meeting with students at the Sirius educational center, reports Dozhd.
According to him, profitable oil reserves in the Russian Federation are currently estimated at 15 billion tons. They should be sufficient for 32 years.
At the same time, geological recoverable oil reserves amount to about 31 billion tons. This could be sufficient for 62 years.
Meanwhile, the exploration of new reserves is constantly underway. And the estimation of the period for which they might be sufficient also depends on the rate of extraction.