Oil in Russia

Recoverable reserves12.1billion tonnes

Production509million tonnes per year

Production ratio24years

The Russian oil industry has been developing for well over a century, much of that time under the Soviet centrally planned and state-owned system, in which the achievement of physical production targets was of prime importance. After World War II, hydrocarbons exploration and production development shifted from European Russia to the east, with the openingup of the Volga-Urals and West Siberia regions.

As the Russian WEC Member Committee was unable to supply up-to-date assessments of hydrocarbon reserves, for reasons of confidentiality, the level of proved recoverable reserves adopted for the present Survey is based on the estimate of 79 000 million barrels published by BP in its Statistical Review of World Energy, June 2009. World Oil has quoted Russian oil reserves as 76 billion barrels for end-2006 through end-2008. Oil & Gas Journal has retained its estimate of 60 billion barrels for both end-2008 and end-2009, and OAPEC has now swung into line with OGJ for all years from 2004 to 2008.

Production levels in Russia advanced strongly from the mid-1950s to around 1980 when output levelled off for a decade. After a sharp decline in the first half of the 1990s, oil production levelled off again, at around 305 million tonnes/yr, until an upward trend starting in 2000 brought the total up to 488.5 million tonnes (nearly 9.9 million b/d) in 2008. Russia exports more than half of its oil production.

Note

Oil data represents Crude Oil only, for extra-heavy oil and oil shale please refer to the WER 2013 report oil chapter.