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 'Russian Energy Week' Energy Efficiency and Energy Development International Forum (REW), the successor to the ENES Forum, a highly popular event among its participants and visitors, will take place at the Manege Central Exhibition Hall in Moscow on 3–7 October.
OPEC Secretary General Mohammad Barkindo has confirmed that he will participate in Russian Energy Week 2017. The cartel head is to take part in one of the key discussions on the Forum business agenda focusing on world oil market stabilization.
Chairman of the Planning and Operation Committee of Japanese Business Alliance for Smart Energy Worldwide (JASE-W) Nobuaki Aoyama has confirmed representatives of the alliance will take part in the business events of Russian Energy Week.