MOSCOW, March 15. /TASS/. Russia is set to develop a technology that will put the country in the ranks of technological leaders for the exploration and production of hard-to-recover oil reserves, Energy Minister Nikolay Shulginov said in addressing the State Duma (lower house of parliament) on Wednesday.

"In 2022, a project was launched for creating an innovative technology using a thermochemical effect on non-traditional oil-bearing horizons. This technology is unrivaled throughout the world, and can help ensure not only import substitution, but surpassing import volumes as well, in the exploration of hard-to-extract reserves," he said.

The future of the oil sector to a large degree rests on the exploration of difficult-to-extract reserves, which is why the federal project titled "Technology for Exploring Hard-to-Extract Reserves" is being implemented in the Khanty-Mansiysk Region, the minister added.