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The Ministry for the Protection of the Environment and Natural Resources of the Russian Federation Is Dissatisfied with Rate of Russian Shelf Development

February 15, 2010

On February 11, Yuri Trutnev, head of the Ministry for the Protection of the Environment and Natural Resources, qualified the present state of the idea of building up strategic reserves of petroleum accumulations as senseless. According to him, withdrawal of portions of subsurface from circulation is ungrounded. In this regard, the Minister complained of too low activity of Russian companies at field development despite having obtained respective licenses. At the same time, companies continue to claim licenses for new shelf sites to be issued as soon as possible.

The Minister also noticed that organization of the “reserve fields” stock will do no good. “One part of the Government suggested the idea. I believe fields are to be involved into circulation,” noticed the Minister and clarified selection of the American system would be more efficient. “In that case, the fields are developed, well spacing is drilled and all necessary infrastructure. And this is a reserve because valves can be opened, pump connected and obtain oil. Otherwise, you need extra five years to turn it (a field) into a reserve,” says Trutnev.

Source: Vremay Novostey

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