Oil extraction from scavenger reserves by 2020 to rise by 2.4 times to 50 mln tons a year

The oil extraction from scavenger reserves in Russia by 2020 is planned to rise from the current 21 mln tons to 50 mln tons a year on the background of the demand rise for energy products in the world, deputy Minister of Energy, K. Molodtsov, said.

“By 2020 we plan the extraction growth of scavenger oil to 50 mln tons. Now 21 mln tons are produced. There will be another 50 mln tons at the shelf by 2025”, he said.

“The domestic demand will be covered without the shelf and scavenger oil in any case”, he added. All over the world the demand for energy products is growing.

In July 2013 the President Putin signed a law on differentiation of the mineral extraction tax for scavenger oil. The law presupposes the differentiation of the mineral extraction tax dependent on the rate of collector’s permeability, level of deposit’s workout and level of oil-field formation (lowering coefficients from 0 to 0.8 are introduced).