LETTER FROM MOSCOW: AUGUST 2012

摘要

Apart from vast reserves offshore the Arctic, Russia is believed to have enormous but hard-to-extract oil resources in already developed regions. The national subsoil agency Rosnedra estimates that the most promising reserves of tight oil, the Bazhenov formation in West Siberia, may hold between 25 billion mt (182 billion barrels) and 50 billion mt of recoverable reserves. Output from Bazhenov could provide 0.8-2.0 million b/d by 2020, or up to nearly one-fifth of the country's current total production of just over 10.2 million b/d of crude, Russia's energy ministry estimates.