How many years will Russia’s oil and gas reserves last?

Sergey Kolobanov, an employee of the Center for Strategic Research, said that there will be enough oil and gas in Russia for many years, while maintaining demand.

In an interview with the Novosti agency on the occasion of the Day of Oil and Gas Workers, Kolobanov said: “It can be firmly asserted that there will be enough oil in Russia for many years with constant demand. technologies for the production of synthetic liquid fuels from other resources (gas, coal)), which are considered uncompetitive in the current economic conditions, but their use is possible.

He explained that the main consumer of fuel are cars with internal combustion engines, noting that they are gradually being replaced by cars running on electricity.

The expert said that if the current level of oil production remains at the level of about 500 million tons per year, Russian oil reserves can last for at least 20 years, and for a maximum of 40 years. But these figures, he said, may change due to ongoing exploration and renewal of oil reserves every year.

He added: “In addition, new methods of production stimulation are being invented that allow us to increase the expected recovery factor and increase the recoverable reserves of existing fields without exploring new fields.”

As for gas, Kolobanov sees its prospects as much longer, since it is considered a transitional fuel. He continued: “In terms of gas, Russia has large reserves and resources; more than 74 trillion cubic meters of recoverable reserves and about 190 trillion cubic meters of probable resources. It is believed that this amount will be enough for 80-100 years. However, gas is considered to be one of the main fuels for electricity generation, which will be in high demand due to the development of electric vehicles.”

Source: RIA Novosti

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