Scientist: while the West hesitates, Russia should start production in the Arctic.

Oil production at all explored fields of Arctic Russia would bring it annual 18 million tons of crude oil by 2030, the Scientific Director of the Institute of Oil and Gas of Academy of Sciences Vasiliy Bogoyavlenskiy announced at the V International Forum "The Arctic: Present and Future", adding that this volume would be 3.5% of the total oil production in Russia.

But it will actually happen only under the condition that Russia begins the development of these areas now. And the Arctic is worth it: Even now, with the current level of polar exploration, the existence of 260 billion tons of oil equivalent in the region was proved, accounting for more than half of all Russian stocks. This study has not yet been carried out on 90% of the shelf and 53% of the continental territory.

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