Ministry: Russia to produce 11 mln tns of oil on Artic shelf by ‘35

MOSCOW, Nov 27 (PRIME) -- Russia’s annual oil production in the Arctic continental shelf zone will rise to 9–11 million tonnes by 2035 from 3.4 million tonnes in 2018, Deputy Energy Minister Pavel Sorokin said in a presentation released on Tuesday.

Oil output would amount to 5 million tonnes per year in 2020 and 2025. Natural gas production will be launched in the Arctic shelf zone in 2025, when it will amount to 8 billion cubic meters, and increase to 15 bcm a year in 2030–2035, the presentation read.

“This is a conservative forecast,” Sorokin said during the presentation.

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