MOSCOW, September 26. /TASS/. Russia targets oil production at 540 mln tons per year in the long term, Deputy Prime Minister Alexander Novak told reporters.

"As far as oil production prospects are concerned, we target output remaining at around 540 mln [tons] in the long term," he said at the Russian Energy Week (REW).

According to the targeted energy strategy scenario obtained by TASS, Russia’s oil production may reach 540 mln tons per year in 2036 and remain at that level by 2050. In 2023, output equaled 531 mln tons.

The seventh international forum Russian Energy Week (REW) is organized by the Roscongress Foundation with the support of the Russian Government, the Russian Energy Ministry and the Moscow Government. TASS is the forum’s information partner.