Kirill Molodtsov: “The end goal isn’t oil production volume, but technologies”
“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.
The Organizing Committee in charge of preparing for and holding the 'Russian Energy Week' Energy Efficiency and Energy Development International Forum in Moscow on 4–7 October 2017 held a regular meeting chaired by Russian Minister of Energy Alexander Novak.
Russia plans to attract approximately RUB 1.5 trillion from private investors to revamp its power sector over the next six years, Russian President Vladimir Putin said in his annual address to the Federal Assembly.
President of Schneider Electric for Russia and CIS Johan Vanderplaetse noted that Russian Energy Week was a key event for the energy industry. “Russian Energy Week has become a major platform for discussing the objectives of the industry and innovative technologies and working out solutions for the development of the energy sector, not only on a Russian scale, but on a global scale as well”, he said.