Russia to re-evaluate non-conventional reserves in 2015

Russia’s Federal Mineral Resources Agency will start re-estimating reserves of unconventional hydrocarbons, which include shale gas and high-viscous oil, in 2015, Natural Resources and Environment Minister Sergei Donskoi told reporters on February 6, Prime has reported.

“At present, reserves are estimated at 22 billion liquid hydrocarbons; there is an estimate that they will reach 40 billion,” Donskoi said, adding that revaluation will require several billion rubles a year.

He said that a slow revaluation of the reserves delays their production.

Copyright: Prime, 2014