KAZAN, August 26. /TASS/. The Russian government is actively fine-tuning the fiscal regime to stimulate companies to implement new technologies in a move to maintain the profitability of developed oil reserves on the horizon of 2030-2035, First Deputy Energy Minister Pavel Sorokin said.
"As early as in 2030-2035, more than three-fifths of our developed reserves will be classified as hard-to-recover. In terms of development complexity, more than three-quarters of reserves that will be introduced, will be in this category," he said.
Despite the fact that Russia's total oil reserves are estimated at 31 bln tons, only about half of them are profitable at the current level of technology, the official noted, adding that this share will decrease if no action is taken.