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.
Mohammed Sanusi Barkindo, Secretary General of the Organization of Petroleum Exporting Countries (OPEC), will take part in the Transformations in the Energy Sector panel session, which is scheduled for 25 May at the St. Petersburg International Economic Forum.
President of Alstom in Russia Philippe Pegorier has confirmed he will take part in the business events of Russian Energy Week (REW). Representatives of the government, major industry companies, and experts will discuss the role of railway transport in supporting the effectiveness of the fuel and energy industry at the Forum.
A Youth Day at the REW will be organised on October 7 as part of the International Russian Energy Week forum. Over 4,000 young experts, university and school students will meet 500 senior managers and representatives from respective industries to discuss the present and the future of the fuel and energy sector.