Novak: oil production on the shelf of the Russian Federation in 2015 increased by 16 percent

Novak: oil production on the shelf of the Russian Federation in 2015 increased by 16 percent


The principal growth, as reported by the energy Minister, was due to the intensification of works in the Pechora sea. The total volume of oil production at continental shelf of Russia amounted to 18.8 million tons.

MOSCOW, 24 Dec. Oil production on the continental shelf of the Russian Federation in 2015, according to preliminary data, increased by 16% compared to 2014 year and amounted to 18.8 million tons, said energy Minister Alexander Novak.

The main growth occurred due to increase of extraction in the Pechora sea to 778 thousand tons of oil from 263 thousand tons of oil a year earlier, the sea of Okhotsk shelf — by 14.9% to 15,952 million tons and the shelf of the Caspian sea by 12.3% to 1,639 million tons.

On the Baltic sea shelf production decreased by 7.5% and amounted to 396 thousand tons of oil, on the Black sea shelf has been cut by 16.4% to 51 thousand tons, according to the documents of the Ministry.

The Ministry of energy of the Russian Federation by the end of 2015 expects growth of oil and gas condensate in the country by 6.9% to 533,6 million tons.