MOSCOW, February 27. /TASS/. Recoverable geological oil reserves in Russia are enough for 62 years but this does not mean it will end over that period, Deputy Prime Minister Alexander Novak said at a meeting with students in Sirius.

Viable oil reserves are about 15 bln metric tons and they will be enough for 32 years, according to the presentation to his report. Recoverable geological oil reserves in Russia amount to about 31 bln metric tons and cover as much as 62 years.

Such reserves stand at about 176.7 bln metric tons globally.

"Our country is now at the fourth place by oil reserves after Saudi Arabia, Iran and Iraq [by the volume of recoverable oil reserves - TASS]. Oil is enough for 62 as regards reserves (recoverable and viable) but it does not mean it would end in 62 years. We book additional volumes every year through exploration and drilling," Novak said.