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Oil production on the Yamal Peninsula may drop by 4% year-on-year in 2015 — governor

The drop in oil production, despite the fact that there are sufficient reserves in the area, is caused only by infrastructure constraints that hamper commercial development of new deposits

© TASS/Geological Institute press service

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Russia's Novatek may face difficulties with financing Yamal LNG project — media

YEKATERINBURG, November 9. /TASS/. Oil production on the Yamal peninsula in Russia’s Arctic region may drop by 4% year-on-year in 2015 to 20.7 million tons, Dmitry Kobylkin, governor of the Yamal-Nenets autonomous district, told TASS.

"In 2014, 21.5 million tons of oil were produced in the district, in 2015 we expect 20.7 million tons (96% of the 2014)", he said.

According to the governor, volumes of oil and gas production depend on objective factors.

"In particular, while the gas sector has a reserve of mining and infrastructure capacities, the level of natural gas production is determined solely by the needs of the domestic and European markets. The drop in oil production, despite the fact that there are sufficient reserves in the area, is caused only by infrastructure constraints that hamper commercial development of new deposits," Kobylkin said.

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He added that in the east of the region the Messoyahinsky hub of oil production is developing. The resource base of oil and condensate there exceeds 3 billion tons, he said.

"The launch of deposits will make it possible to double oil production in the region in the next few years," the head of the region said.

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Iran done with retaliation, calls for efforts to stop Israel from reckless steps — MFA

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Israeli Air Force attacks airfield in southern Syria during strike on Iran

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Fox News said the Jewish state delivered a limited strike on Iran

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Syrian ministry says Israeli jets struck air defense facilities in country’s south

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US 'not forgetting' to help itself with aid to Ukraine — Kremlin

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Nuclear sites in Iran’s Isfahan province are safe — Tasnim agency

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West frightens voters by 'Russian threat' to win elections — Lavrov

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Russia’s defense chief inspects production of tanks, flamethrowers at Siberian enterprise

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Russian Aerospace Forces strike five militant hideouts in Syria’s Homs

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Ukraine turns from sovereign country into Western protectorate, Hungarian PM says

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Crimea, Donbass to forever remain within Russia, Slovak PM tells national parliament

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Romania tries to cancel Russian culture by banning films — diplomat

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Tehran’s two major airports cancel international flights — Mehr

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Russian military closely monitors all Ukrainian 'novelties' — Kremlin on UAVs

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Ukrainian president admits Russian troops’ advancement

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