Almost all oil produced in Russia will be hard to recover in a decade — official

Quality of oil produced in Russia will decline in a decade to the extent that it will be almost entirely categorized as hard to recover; its lifting cost will be much higher than for conventional reserves, Deputy Energy Minister Pavel Sorokin said on Wednesday.

“Almost 100% of our production will be hard to recover over the term of ten years,” the official said.

Worsened quality of reserves means the need to incentivize exploration and oil production in Russia, Sorokin added.
Source: TASS