Rosneft puts offshore costs at $2.6tn
Wire services
Russia needs 61 trillion rubles ($2.6 trillion) of investment to develop
offshore oil and gas deposits, Rosneft boss Sergei Bogdanchikov has
claimed.
Exploration alone of offshore regions until 2050 will cost 16 trillion rubles
and production 45 trillion rubles more, Bogdanchikov told reporters and
government officials in Moscow today.
Russia's sector of the Arctic Ocean may hold 100 billion barrels of oil and
natural gas, enough to meet US fuel demand for almost nine years, state-run
Rosneft's smaller competitor Lukoil said last week.
Western Siberian oilfields, where Russia pumps most of its crude, have
depleted after more than 30 years of extraction, forcing oil companies to
seek growth in increasingly remote regions.
Offshore projects could produce 80 million to 90 million metric tons of oil or
between 1.6 million barrels a day to 1.8 million barrels a day, Bogdanchikov
said, citing company estimates.
Offshore hydrocarbon production may be evenly split between crude oil and
natural gas, Bloomberg quoted him as saying.
18 April 2008 20:36 GMT
| last updated:
22 April 2008 09:28 GMT
Latest jobs
