The Russian Energy Ministry expects production of hard-to-recover oil reserves to rise by 10-15% in 2016, Deputy Minister Kirill Molodtsov reported.
“Our combined amount of production of hard-to-recover oil reserves has increased. Last year it stood at 21 million tons, I think, but this year we will increase it by about 10-15%. This is not a stunning figure, it only accounts for 5% (of the total oil output), but these (reserves) are involved (into development)”, he said.
In mid-September, Natural Resources and Environment Minister Sergei Dosnkoi said that about 30% of Russia’s 29 billion tons of oil reserves was scavenger oil. (Prime/Business World Magazine)
