Large amounts of oil, gas discovered in Northern Russia

Graeme · **Posted:** Tue Mar 21, 2006 3:29 am

Quote:

Large amounts of oil and natural gas have been discovered in the Yamal-Nenets region North Russia but experts have not yet been able to estimate the total amount of reserves in the area.

The region contains 73 percent of Russia's discovered gas, 14 percent of Russian oil, and 58 percent of condensated gas making it Russia's most attractive region for foreign investors.

The Kholym oil fields, about 260 kilometers away from Nadym, are one of hundreds of oil fields in Siberia holding large reserves of oil. Experts say decades are needed to tap into these oil fields. Chief Engineer, Victor Osipov, told KUNA the Kholym oil reserves are about six million tons in size and annual production is about one million ton.

kuna

erb · **Posted:** Tue Mar 21, 2006 7:34 am

soooo

they'll have a bit more to offer europe and uk and keep things going for what 2 more years?

i guess till we hear how much they found we can assume it isnt going to be much of a difference, the odds its a saudi sized reserve are slim

Russian_Cowboy · **Joined:** Wed Feb 16, 2005 1:00 am **Posts:** 259

[quote="Graeme"]Large amounts of oil, gas discovered in Northern Russia

...in the 1970ies. Even though the news may sound like the discovery took place yesterday.

Graeme · **Posted:** Thu Mar 23, 2006 1:29 am

RC, Are you saying there is nothing new in the article reported by KUNA? If not, can you enlighten us with your knowledge of the area - in particular the total size of the reserves in Siberia?

Russian_Cowboy · **Joined:** Wed Feb 16, 2005 1:00 am **Posts:** 259

Graeme wrote:

RC, Are you saying there is nothing new in the article reported by KUNA? If not, can you enlighten us with your knowledge of the area - in particular the total size of the reserves in Siberia?

The article in the URL is about the Western Siberia. This area has been very thoroughly explored 20-30 years ago by geologists. There is no way you can discover anything serious in W.Siberia. The total size of the oil reserves in Western Siberia is estimated at about 65 GBa. There is also Eastern Siberia that has not been fully explored, but it has extremely rugged terrain and almost no infrastructure, much like Greenland or Antarctics minus ice. I read an article on oil extraction at the heart of Eastern Siberia: Irkutsk Region. The production rate is laughably small and the oil has to be delivered to the pipelines using tank tractors capable of blazing trails in Taiga and driving off roads in mountainous terrain.

Sgs-Cruz · **Posted:** Fri Mar 24, 2006 9:19 am

Keep in mind, everyone, that continuing discoveries are to be expected. There's a lot of resource out there that we know (at least, we're pretty confident we know) is there, we just haven't found it yet.

This unfortunately doesn't change the peak schedule by very much. Maybe if we found another two or three (or twenty) Saudi Arabias

Large amounts of oil, gas discovered in Northern Russia

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