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Hydrocarbon exploration investment in Russia declines in 2025 — ministry

According to Russian Natural Resources and Environment Minister Alexander Kozlov, the reduction in investment mainly occurred due to a decrease in exploration drilling volumes

MOSCOW, June 2. /TASS/. The decline in subsoil users’ investment in hydrocarbon exploration in 2025 was primarily linked to a reduction in exploration drilling volumes, which remain the main expense item for companies, Russian Natural Resources and Environment Minister Alexander Kozlov said in an interview with TASS ahead of the St. Petersburg International Economic Forum (SPIEF).

"The volume of company investment depends on the production investment cycle: for example, a company may have already invested substantial funds in a particular stage of work the year before, while the next stage may require lower spending. The reduction in investment last year mainly occurred due to a decrease in exploration drilling volumes — the main expense category for subsoil users," Kozlov said.

He noted that this trend was recorded in the Ural, Siberian, and Volga federal districts. "At the same time, these districts continue to maintain leadership in drilling activity volumes compared with other regions," he stressed.

The natural resources minister also noted that over the past five years there has been a positive trend of exploration drilling volumes exceeding appraisal drilling volumes. "The average success rate of exploration drilling amounted to 0.8. At the same time, seismic exploration work (2D seismic surveys) increased to 8,000 linear kilometers," he said.

Private financing of hydrocarbon geological exploration totaled 317 bln rubles in 2025, which was 8% lower than the previous year’s level, Kozlov added.

The St. Petersburg International Economic Forum will take place on June 3-6. The forum’s main theme is "Pragmatic Dialogue: The Path to a Stable Future." The program is focused on shaping a new model of global development amid the transformation of the world economy.

The agenda includes the SME Forum, the Creative Industries Forum, the International Youth Forum "Day of the Future," and the Pharmaceutical Security Forum. The cultural program will feature the Petersburg Seasons festival, as well as the traditional SPIEF Sports Games.

The forum is organized by the Roscongress Foundation. TASS is the forum’s general information partner.

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