Russia to produce more than 50% of Arctic oil and gas.
Edited by Rhod Mackenzie / 2015-07-08 08:37:48
By 2030 the Russian Federation will receive 55% of all hydrocarbons extracted in the Arctic. This is stated in the annual report of the World Petroleum Council. According to the forecast of WPC, oil production on the Arctic shelf of Russia will increase by 3.6 times, from the current 600 thousand barrels of o.e. per day (o.e. - oil equivalent) to 2.2 million barrels of o.e. per day by 2030.
