Challenges for Russian oil production

Following a pause as the country complied with the recent OPEC/Non-OPEC deal Russia is set to expand its oil output again. Fields currently under development will see production rise consistently until the early 2020s, but the key question will be whether this can be sustained for the longer term. Existing fields in West Siberia and European Russia will go into natural decline and plans to develop new assets on the continental shelf, in the Arctic and in the expansive shale reservoirs have been undermined by sanctions. East Siberia remains an area of great potential, especially as Russia continues its pivot to Asia, but may not compensate for declines elsewhere. This research will therefore explore whether Russian oil companies have the capability to exploit new regions without traditional western partners or whether Russian oil production is set for inevitable decline from 2023 onwards.

By: James Henderson , Ekaterina Grushevenko

Categories:

Oil , Oil & Middle East Programme

Tags:

Latest Tweets from @OxfordEnergy

  • A review of a new OIES paper on oil market conditions and Saudi Arabia’ balancing act: The extent of dislocations i… https://t.co/n8EFPraNEj

    May 24th

  • Jonathan Stern on the latest Groningen earthquake: I think it is likely to accelerate even further the phase-out of… https://t.co/d1tGcAIAjp

    May 23rd

  • About 43% of the industrial gas demand in Europe could, in theory, decline in the 2020s as a result of decarbonizat… https://t.co/0iMqP4dCsd

    May 23rd

Sign up for our Newsletter

Register your email address here and we will send you notification of new publications, comment, articles etc. automatically.