Russia’s lucrative role as one of the world’s largest energy exporters could be under threat in the not-too-distant future, a top Moscow official has warned, claiming oil deposits could begin running dry within just two decades.
Speaking to journalists at an oil and gas conference in the Siberian city of Tyumen on Wednesday, the acting head of the Federal Agency for Mineral Resources, Evgeny Petrov, said the supply of black gold is far from never-ending. According to him, “profitable reserves [of oil] will last for around 20 or 21 years.”
If Moscow wants to retain its status as one of the world’s largest sellers of crude oil, it will have to invest in new technologies to explore and tap deposits that are harder to access, Petrov said. He went on to add that there could be vast, untapped riches under the soil in Western Siberia. “Extraction is still ongoing here, and there is potential for it to go on for many, many years,” the official claimed.
https://www.rt.com/russia/534890-oil-depozits-running-dry/