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'Arctic' oil share in Russia's production to reach 26% by 2035

The Arctic production would grow to more than 90 million tonnes against the current level of 60 million tonnes

MURMANSK, November 15. /TASS/. The share of Russian oil, produced in the Arctic zone, would grow by 2035 from 17 to 26%, Russia's First Deputy Minister of Energy Alexei Teksler said on Wednesday.

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Experts say balance between industry and environment in Arctic is vital

"By 2035, the share of oil, produced in the Arctic, would grow to 26%," he said.

This means, that the Arctic production would grow to more than 90 million tonnes against the current level of 60 million tonnes. According to the deputy minister, the oil deposits in the Arctic take about 22% of the oil reserves in Russia.

The gas production in the Arctic would also grow. In 20 years, the growth would be 200 bcm. The share of the "Arctic" gas in the Russian production would remain about the same - slightly over 80%, where the Arctic deposits take the share of 65%, first of all the fields in Yamal.

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