Russian oil firms could produce 200,000 b/d of crude from Achimov deposits in 7-8 years and another 200,000 b/d from Bazhenov deposits in 10-12 years, according to private-sector firm Lukoil vice-president Leonid Fedun. Production growth in the remainder of this decade will be driven by tight oil projects and the ability and willingness of firms to increase recovery rates, which are typically lower in Russia than else- where, Lukoil says. But the firm warns that Russian oil output will start to fall in 2016-17 unless new technologies are used to boost recovery and tight oil tax breaks are introduced. New fields “would be unable to mitigate falling output at the old ones”, Lukoil says.
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