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Russia Overview

Russia

in figures

Oil Reserves106.2 billion barrels

Oil Production11,25 million bopd

Gas Reserves35 tcm

Gas Production635.6 bcm

Russia: Unconventional Directions

With a hydrocarbons landscape consisting mostly of ageing oil and gasfields, Russia is funnelling its efforts into further development of brownfields and the exploration of unconventional greenfields that were previously not viable. With the world’s second-largest natural gas reserves – estimated at 35 tcm (1,235 tcf) – Russia is also the second-largest producer of dry natural gas, with an output of 635.6 bcm (22.4 bcf) in 2017.

Most of Russia’s production remains dominated by domestic firms, the largest being Rosneft and Lukoil. Following the collapse of the Soviet Union, Russia initially privatised its oil industry, but its oil and gas sector has since reverted to state control.

Technological development and co-operation with foreign companies are reinvigorating Russia’s manufacturing industry. New techniques are extending the lives of Russia’s ageing oilfield equipment, yet domestic manufacturers often lack the capacity to develop the requisite technologies. This has provided a market for companies from abroad to meet Russia’s evolving technological demands.

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Alexander Novak remains Russian energy minister

Alexander Novak remains Russian energy minister

January 22, 2020

Russian Minister of Energy Alexander Novak will retain his position following a Cabinet shake-up, the Kremlin has stated in a…

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NAPEC 2020 News
OIL & GAS EQUIPMENT MANUFACTURERS’ ASSOCIATION
January 14, 2020

Konstantin O. Radinsky, president of the Oil & Gas Equipment Manufacturers’ Association (OGEMA), talks to TOGY about the government’s support for Russian oil and…

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Nail Maganov Tatneft Russia
December 11, 2019

Nail Maganov, general director of Tatneft, talks to TOGY about how the company is boosting its oil production, its strength in tackling hard-to-recover reserves and its…

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BEREZKAGAS COMPANY
December 04, 2019

Dmitry Lipyavko, director-general of BerezkaGas Company, and Andrei Nepomniashchii, the company’s executive director, talk to TOGY about the benefits of reducing…

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Yan Sharipov
October 10, 2019

Yan Sharipov, general director of TNG Group, talks to TOGY about demand for seismic services in Russia and challenges the market is experiencing, as well as the…

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SHAFRANIK Yuri
October 09, 2019

Yuri K. Shafranik, chairman of the Union of Oil & Gas Producers of Russia, talks to TOGY about key recent milestones for the Russian oil and gas industry and the…

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Genadiy Shmal
September 10, 2019

Genadiy Shmal, president of the Union of Oil & Gas Producers of Russia, talks to TOGY about Russia’s capacity to continue supplying gas to Europe, as well as the key…

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