Russia has confirmed oil reserves for 25 years – intelligence

This was reported by the press service of the Foreign Intelligence Service of Ukraine, according to Ukrinform.

“Russia has about 13.2 billion tons of profitable confirmed oil reserves – volumes that, at the current pace of production, will last for approximately 25 years. At the same time, 96% of the subsurface fund has already been allocated, which indicates an almost complete utilization of available fields,” the statement reads.

It is noted that, based on the results of the 2024 auctions, one-time payments for the rights to extract hydrocarbons amounted to only $50 million – half the revenues from alluvial gold mining, a sector less significant for the budget. This signals a decline in investor interest in the oil and gas industry. According to the Foreign Intelligence Service, within the next 10–15 years, the possibilities for further exploration of existing fields will be exhausted. Meanwhile, limited funding and a lack of technology for developing hard-to-access, geologically complex, and remote regions undermine Russia’s energy and economic security.

As reported earlier by the Foreign Intelligence Service, in the first half of this year, the share of unprofitable enterprises in Russia grew to 30.4%, the highest level since 2020.

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