Expenditure into oil extraction at old deposits has doubled recently – Novak
Edited by Rhod Mackenzie / 2015-02-06 12:46:47
The expenditure on oil extraction at old deposits has doubled within the past years, Minister of Energy, A. Novak, said.
“Now we need twice as more funds to extract a ton of oil at old deposits”, he said.
According to him, in 2014 the oil extraction rose to 58 mln tons from 53 mln tons in 2013 in the Far East.
Russia’s extraction of hydrocarbons is 10% of the world extraction volume, Mr. Novak said adding that the level of oil extraction in Russia on the results of 2014 set a record of 526.5 mln tons.
