Extraction at new Arctic deposits of Russia to start not earlier than 2020 – Gazprom Neft Sakhalin
Edited by Rhod Mackenzie / 2016-04-12 01:56:00
The extraction at new Arctic deposits of Russia will start not earlier than 2020, the head of the production management of Gazprom Neft Sakhalin, A. Fadeev, said.
By 2035 the need in oil and gas will grow by 18% and 44% respectively.
The current oil prices influence on the realization of current projects only but not on the exploration. The extraction at new deposits will start not earlier than 2020, so if we don’t work on them now, the oil price might rise but due to the exhaustion of resources. I hope by 2020 the oil price will be fair, he said.
