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Minister charts Crimea potential for hydrocarbon riches

April 15, 2014, 15:24 UTC+3 MOSCOW

Hydrocarbon reserves in Crimea are equivalent to 47 million tons of oil and 165 million cubic meters of gas

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© ITAR-TASS/Alexei Pavlishak

MOSCOW, April 15. /ITAR-TASS/. Russia’s Crimean peninsula has promising potential for hydrocarbon production available from reserves still unexplored, Russian Minister of Natural Resources Sergei Donskoy told ITAR-TASS.

“Quite serious prospects need to be worked on,” the minister said, noting a "quite low" level of geological prospecting on the peninsula using modern methods.

Hydrocarbon reserves in Crimea were equivalent to 47 million tons of oil and 165 million cubic meters of gas now under Russian jurisdiction, Donskoy noted, having already reported on 44 fields of hydrocarbon resources including 10 of oil, 27 of gas and seven gas condensate deposits situated on the peninsula.

Russia’s Black Sea continental shelf has five gas deposits and three gas condensate deposits alongside six gas offshore deposits in the Sea of Azov.

Crimea has around 154 deposits of raw stock for building materials, including sand and face stone, seven deposits of metallurgical raw resources and three deposits of mining and chemical raw materials.

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