Oil moved to the resource group, where the lack of profitable reserves is recorded – Rosnedra

Oil moved to the resource group, where the lack of profitable reserves is recorded – Rosnedra

Oil moved to the resource group, where the lack of profitable reserves is recorded - Rosnedra

Oil has moved to the group of those minerals where the lack of profitable reserves is recorded, and a paradigm shift on the part of the state is important for the oil industry, said Deputy Head of Rosnedr Evgeny Petrov at the Tyumen Oil and Gas Forum.

“Subsoil use is long-term planning, long money. Today, it is necessary to shorten the planning horizon in order to meet market trends. Therefore, there is a general paradigm shift – a transition to the concept of profitable reserves, what we can extract here and now,” he said.

“According to the quantity and quality of balance reserves, all important minerals for the country's economy are divided into three main groups. The first is reserves, the needs for which will be satisfied under any scenarios of economic development. These are gas, gold. Those minerals, I emphasize, are profitable, which we provided for 20-30 years, “- said Petrov.

“The second group, very critical, where there is insufficient provision of profitable reserves. General reserves and resources here can be colossal, but profitable ones can be very small. Unfortunately, oil is already included in this group. And no matter how it goes into the third group.Here it is important to change the paradigm on the part of the state – in terms of approaches to the search for deposits, the introduction of deposits at least into pilot development, etc. Besides oil, there is also a large part of solid ) “, – he stressed.

“The third group, which is very sensitive, is scarce minerals, the domestic consumption of which is largely provided by forced imports. There is active work here, because this group contains those metals that will be most in demand due to the rapid development of industry and electronics,” added the deputy head of Rosnedr.

“It is necessary to strive for complete transparency of the mineral resource base, reserves. I mean transparency, reliability of the resource base, understanding of the final cost of a unit of resources and reserves. Both primary information and how the price is formed along the entire chain. We are now very actively moving in this direction. I will not get ahead of myself yet, but in the near future the Federal Agency for Mineral Resources and the Ministry of Natural Resources will make a breakthrough with regard to the entire environmental management system, which will change approaches to subsoil use, “he said.

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