ST. PETERSBURG, September 4. /TASS/. The oil demand by 2050 in Russia is globally is covered by current profitable projects by maximum 30%, according to the presentation of head of the State Reserves Commission (SRC) Igor Shpurov at the conference of "Hard-to-recover reserves: the present and the future."

New profitable reserves should be brought on stream in support of the future oil demand on account of using hard-to-recover and unprofitable reserves and perform exploration to search for potentially profitable reserves, according to the presentation.

Russia will need to support incremental growth by 7 bln metric tons of profitable oil reserves on account of hard-to-recover reserves and 4 bln metric tons on account of greenfield projects, Shpurov said.