Kirill Molodtsov: “The end goal isn’t oil production volume, but technologies”

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October 23, 2017

Kirill Molodtsov: “The end goal isn’t oil production volume, but technologies”

Russian Deputy Minister of Energy Kirill Molodtsov said at the plenary discussion ‘Increasing the Efficiency of Oil Extraction: Meeting the Challenges’ during Russian Energy Week that there has been an increase in the production of hard-to-recover oil reserves in recent years.

“We expect to extract roughly 80 million tonnes of hard-to-recover reserves by 2035. The volume of hard-to-recover reserves extracted over the last 3 years has increased annually by 9% on average”, Molodtsov said.

Molodtsov stressed that in the current situation “the end goal isn’t oil production volume, but technologies”. “Horizontal drilling in Western Siberia is has increased by about 30% compared with 2015. We are actively using technologies associated with the development of hard-to-recover reserves. Technologies are being developed by all concerned companies, both vertically integrated companies and purely mining companies”, Molodtsov said.

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04 October 2017 Open session of the Housing Reform Assistance Fund Supervisory Council takes place as part of Russian Energy Week

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Taking part in the discussion were Deputy Minister of Energy of the Russian Federation Anton Inyutsyn, Deputy Minister of Finance of the Russian Federation Leonid Gornin, First Deputy Chairman of the Council of the Federation Committee on the Federal Structure, Regional Policies, Local Self-Governance, and Affairs of the North Stepan Kirichuk, Advisor to the President of the Russian Federation Alexandra Levitskaya, First Deputy Chairman of the State Duma Committee on Housing Policy and Housing and Communal Services Alexander Sidyakin, Chairperson of the State Duma Committee on Housing Policy and Housing and Communal Services Galina Khovanskaya, and Chairman of the Civic Chamber Commission on Housing and Public Utilities, Construction, and Roads Igor Shpektor.

Participants discussed promising areas of activity for state corporations which take into account the issues facing state policy with respect to increasing energy efficiency in housing and utilities. The importance of this issue with respect to Russian housing and utilities was noted by Anton Inyutsyn in particular. “The existence of an effective long-term development institute for housing and utilities is absolutely essential in order to tackle the challenges of modernizing utility infrastructure”, the Deputy Minister underlined.

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