Russian northern region governor wants cooperation with Germany on hard-to-recover oil

April 4, 2014

Khanty-Mansi Autonomous Area-Yugra Governor Natalya Komarova has called on German colleagues to develop cooperation regarding hard-to-recover oil. Speaking at the seventh Russia-German conference on raw materials in Dresden, she recalled that Yugra and Germany developed cooperation as far as mobile gas power plants were concerned. Komarova said that the age of easy-to-recover oil was over. In this situation, international cooperation was very important for regions dependent on raw materials like Yugra which need new technologies and new approaches to business development.

Komarova said Yugra was very much involved in the exploration of hard-to-recover reserves. This concerns, in particular, the Bazhenov formation whose reserves are estimated at almost 11bn tons of oil. In 2013, about $900mn was invested in geological exploration in Yugra. Over the period, Yugra’s reserves rose by 257mn tons of oil. Komarova asked participants in the conference to become Yugra’s partners in RAN-Yugra, an innovation center established to increase production at the deposits which were being developed.

Copyright: Pravda URFO, 2014