Greenfields galore for Russia
Eastern Siberia will be the engine for rising Russian oil and gas output for decades
Russia's Eastern Siberia region is to be the Kremlin's key upstream play over the next two decades as several new megaprojects come on line. Total crude production would rise to the Kremlin's target of 2.37m barrels a day by 2035. The plan is part of Russia's national energy blueprint covering the next 18 years, which calls for a 70% jump in the region's crude output from the 1.4m b/d achieved in 2016. Eastern Siberia is one of the key regions in Russia's strategy for energy development. Vast hydrocarbon reserves, which the government regards as critical to the country's socio-economic development, and proximity to Asia-Pacific markets are the reason. Companies and investors seem to agree—a
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