Novak: the share of hard-to-recover oil reserves will grow to 70% by 2050

Deputy Prime Minister of Russia Alexander Novak predicts an increase in the share of production of hard-to-recover reserves (TRIZ) of oil by 2050. In his opinion, it will increase from the current 30% to 70%.

Wherein Novak stressed that the Russian government also does not exclude the introduction of additional benefits for such reserves.

“Our reserve structure is changing, indeed, towards more and more difficult-to-extract reserves. According to TRIZ, you correctly noted that today about 30% of our production – 166 million tons – is extracted from difficult-to-extract reserves. And this share will grow “We expect that by 2050 this share could grow to 70%,” the Russian Deputy Prime Minister said during a meeting of the Federation Council Committee on Economic Policy.

Besides, Novak reminded that Russia has adopted a federal project for the development of hard-to-recover deposits. Companies, as well as interested regions, take an active part in it.

Author Victoria Borisyuk

Victoria Borisyuk is a journalist, correspondent for the Pravda.Ru news service.

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