Russian Oil Reserves Grew By 559.8Mln Tons In 2020

Russian Oil Reserves Grew by 559.8Mln Tons in 2020

Russia's Rosnedra mineral resources agency increased its estimate of the country's oil reserves by 559.8 million tons in 2020

MOSCOW (Pakistan Point News / Sputnik - 09th April, 2021) Russia's Rosnedra mineral resources agency increased its estimate of the country's oil reserves by 559.8 million tons in 2020.

Yevgeny Kiselyov, the agency's director, said during a presentation that natural gas reserves grew by 1.6 trillion cubic meters and gas condensate by 54.4 million tons.

Energy Minister Nikolai Shulginov said in March that Russia produced 512.8 million tons of oil and 692.9 billion cubic meters of natural gas last year.

The state registry of hydrocarbon reserves now includes 49 newly explored oil and gas fields. Exploration costs rose to 353.4 billion rubles ($4.6 billion) last year, from 264.5 billion in 2015.