Alexander Kozlov: "Russian oil reserves remain for 59 years"

“Somewhere there are deposits that are being released, and there are those that have not yet received full load”, - Alexander Kozlov clarified in an interview with RBC.

In his opinion, it is necessary to develop geological exploration, including hard-to-reach places. In addition, the head of the department believes that it is necessary to load the Northern Sea Route, "its main base will be hydrocarbons".

He noted that keeping the cost of oil against the background of the existing sanctions restrictions is a difficult job, since, first of all, "foreign partners do not allow the use of certain technologies".

"But the development of technologies in Russia contributes to the creation of new jobs, because a lot of people work in the industry - not only in production and processing, but also in related fields, such as oilfield services", - the minister specified.

Alexander Kozlov pointed out that the active development of the Arctic shelf with the participation of private companies will depend "on the availability of the necessary technologies and the base that already exists in easily accessible places."

It's worth reminding that the excess oil formed during the coronavirus pandemic is now practically exhausted. So far, excess reserves remain only in China, which is still creating its own constant supply of fuel.

Earlier, Deputy Energy Minister Pavel Sorokin indicated that only 36% of the 30 billion tons of oil reserves in Russia are profitable . This is due to the deterioration of their conditions of development and a drop in quality.