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Share of Arctic offshore oil in Russia’s oil output may reach 5 percent by 2035

January 23, 2014, 17:06 UTC+3 MOSCOW
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MOSCOW, January 23. /ITAR-TASS/. The share of Arctic offshore oil in Russia’s total oil output may reach 5% and in gas output - up to 10%, the Energy Ministry said in its energy strategy until 2035 on Thursday.

According to the strategy, the development of hydrocarbon potential in the Arctic and Russia’s northern territories will play a stabilizing role in the dynamics of oil and gas production, compensating for possible decline in production in traditional oil and gas rich regions.

 

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