Shale oil production is irrelevant for Russia

Shale oil deposits development is of no concern to Russia to date. It is more economically reasonable to produce tight oil, as its prime cost is lower. What is more, preferential taxation is available to it. Vice-president for strategic development of LUKOIL L.Fedun asserted during the phone conference with investors.

“Shale oil is the subject of tomorrow. To date, there is tight oil. For instance, Achimovsky deposits. The oil there is neither ordinary, nor shale yet. It has lower prime cost,” he said.