Russia plans to keep oil and gas industry output $5.2 bln by 2035 — ministry

Business & Economy August 23, 2023, 17:07

It is planned that by 2035 the share of domestic oil and gas equipment in the country will be 92%

MOSCOW, August 23. /TASS/. Russia plans to maintain the volume of production in the oil and gas industry at the level of 490 billion rubles ($5.2 bln) by 2035, the Industry and Trade Ministry told TASS, referring to the strategy for the development of the manufacturing industry of the Russian Federation until 2030 and for the period until 2035.

"The target indicators for the development of the oil and gas industry until 2035 are (under intensive scenario) imply maintaining the volume of production at the level of about 490 billion rubles," the Industry and Trade Ministry noted.

It is planned that by 2035 the share of domestic oil and gas equipment in the country will be 92%, oil production will be kept at the level of 490-555 mln tons per year, and gas - in the range of 860-1000 bln cubic meters per year.

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