New oil fields: profitable or not?
12+

New oil fields: profitable or not?

June 10, 2020

The specialists will study the subject taking into account the regions’ remoteness and the need of pipelines and ports.

This year the scientists at the Institute of Petroleum Geology and Geophysics (INGG) of the Russian Academy of Sciences Siberian Branch will evaluate the economic efficiency of developing new oil and gas fields in the Krasnoyarsk region, Irkutsk region and the Republic of Sakha.

According to the Institute’s specialists, last year, production at three base fields in the above-mentioned regions amounted to 31.2 million tons per year, decreasing by 2.3 million tons compared to 2018. For example, at the Vankor field in the Krasnoyarsk region, it amounted to 14.1 million tons in 2019.

“Based on geological and economic modeling, the authors of the project will evaluate the economic efficiency of involving new sections of the subsoil in the economic turnover, the formation of a new pipeline and port infrastructure in the Krasnoyarsk region, Irkutsk region and the Republic of Sakha. According to calculations, the maximum level of oil production in open East Siberian and Yakut fields can reach 63–64 million tons by 2023”, said Irina Filimonova, the head of the laboratory at the Center for the Economics of Oil and Gas Subsoil Use of INGG. It is possible to maintain this level of production for several years with active exploration to search for new deposits, she said.

The research is supported by a grant from the Russian Foundation for Basic Research (RFBR). The scientists will focus on the regions of Eastern Siberia and the Far East, since they possess significant oil and gas reserves at the lowest level of gasification in the country and the availability of transport infrastructure. The researchers will also take into account the regions neighborhood with states with high energy needs and high population densities – countries in the Asia-Pacific region, and primarily China.

Text: Victor Tsaryov, Photo: Oil and Gas Information Agency

June 10, 2020

All rights reserved ©️ THIS IS TAIMYR online media, 2020

If quoting in whole or in part, a reference to the This is Taimyr is required. The editors are not responsible for the information contained in advertisements. The editors do not provide reference information. Registered by the Federal Service for Supervision in the Sphere of Communications, Information Technology and Mass Media. Certificate of registration of mass media is ЭЛ No. ФС 77 - 79414 dated 02.11.2020, valid. Distributed in Russian Federation and foreign countries.

Founder: Severny Gorod Media Company LLC, 663300, Krasnoyarsk Territory, Norilsk, Komsomolskaya st., 33a.

Chief editor: Natalia N. Popova