Over 40 million tons of oil may be annually produced from Yamal’s subsoil

The scale of mineral exploration in the Yamal-Nenets autonomous district markedly decreased in recent years, employments of the Siberian Scientific Analytical Center say. Last year, only 7 small deposits were discovered in the region, this almost didn’t give growth in the oil and gas production.

"We should invest money in it. Even the information that we have about the resource base - which is more than 40 billion tons of oil equivalent, and we discover 40 million tons - is one thousandth part of the reserve. We are simply not serious or not practically engaged in the resource base of the Yamal region. And it is very large,"- deputy general director for geology of SibSAC Mikhail Shvetsov.