VLADIVOSTOK, September 5. /TASS/. Russia’s Ministry of Natural Resources and Environment expects replenishment of oil reserves at the level of 110% of production this year, whereas replenishment of gas reserves is expected at 100%, Minister Alexander Kozlov said in an interview with TASS on the sidelines of the Eastern Economic Forum (EEF).

"Final results on geological exploration of hydrocarbons for 2024 will be provided at the beginning of 2025. We expect gas replenishment at 100% from production, while oil [replenishment is expected] at 110%. In 2025, reserves of hydrocarbons are also planned to be replenished at the production level," he said.

According to the Russian Economic Development Ministry’s forecast, oil production in the country may reach 523 mln tons in 2024. Consequently, replenishment of oil reserves may total 575.3 mln tons. The economy’s projection on gas output is 666.7 bln rubles meters. Consequently, the level of replenishment of reserves may also reach that level.

The Eastern Economic Forum is underway on the campus of the Far Eastern Federal University in Vladivostok. The main theme of the EEF this year is 'Far East 2030. Combining strengths to create new potential'. Business activities are broken down into seven thematic blocks: 'New contours of international cooperation', 'Technologies to ensure independence', 'Financial value system', 'the Russian Far East', 'People, education and patriotism', 'Transport and logistics: new routes', and 'Master plans: from architecture to economy'. The Roscongress Foundation is the Forum’s organizer. TASS is the general information partner of the EEF.