Oil production in Russia in the years 2015-16 will amount to 533 million tonnes

Oil production in Russia in the years 2015-16 will amount to 533 million tonnes


In 2017-2020 will be reduced oil production, which can be up to 10 million tons a year, said the first Deputy energy Minister Alexei Teksler.

MOSCOW, Nov 17. The Ministry of energy of the Russian Federation does not change its forecasts in terms of oil production in Russia in 2015-2016 — in this period, the country will produce 533 million tons of “black gold” per year; in 2017 we will begin deterioration, which can be up to 10 million tons per year, said first Deputy energy Minister Alexei Teksler.

“As for the extraction: our forecast for this year is approximately 533 million tons together with gas condensate, next year we have the same evaluation. We hope that this level will keep working. However then there is a probability of decline in production, we have about three dozen projects (licenses) transferred to a later date,” said Teksler.

He explained that a conservative forecast of the Ministry of energy on oil production in 2017 is 527 million tons. “We hope to maintain this production next year with a possible decrease from 2017. We have generalized the prediction that there is a possibility of reducing oil production to 10 million tons per year,” said Teksler.