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Crimea and Sevastopol

Crimea can raise oil, gas condensate output up to 600,000 tons per year — experts

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Minister charts Crimea potential for hydrocarbon riches

MOSCOW, April 15. /ITAR-TASS/. Production of oil and gas condensate in Crimea may be increased by five to eight times as compared to the level of 2013 and reach 400,000-600,000 tons per year in the future, experts of the Russian foundation “Institute of Energy and Finance” underlined in a report drafted for the Russian president.

According to experts, Crimea’s oil and gas condensate output was at 76,000 tons in 2013.

The growth of oil and gas condensate production to 400,000-600,000 tons per year will allow the region to meet domestic demands, while oil processing may be organized in the Krasnodar Oblast, experts said.

Moreover, Crimea’s gas extraction may be increased considerably already in the next few years - it may reach three billion cubic meters in 2015, which will make it possible to cover the current level of consumption and create about 0.6-0.8 billion cubic meters surplus. The surplus may be used for the development of heating power generation. Now, Crimea almost 80% depends on electricity flows from Ukraine’s unified power grid.

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Crimea and Sevastopol

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