Interfax: Growth of oil, gas reserves in 2016 to exceed their production – Rosnedra

MOSCOW. March 29 (Interfax) – The growth of oil and gas reserves in 2016 will exceed their production, head of the Federal Subsurface Resources Agency (Rosnedra), Yevgeny Kiselev, told journalists.

“I think that we will keep the parameters that were set down in the state program. Simple reproduction, an increase in production levels will be provided. As a rule, we are surpassing this by 5%-7%, and in a number of cases by 10%-12%, both for oil and gas,” he said.

He said that companies now are reducing drilling, however everything has not been resolved due to this.

“Technology also makes a contribution to these issues. In particular, these are issues of production technology for subsurface resources, it is possible to increase the oil recovery ratio,” he said.