The Russian government approved the draft general scheme for the development of the country’s oil industry until 2035. The draft general scheme for the development of the gas industry in the Russian Federation for the same period was also approved.
The purpose of developing general schemes is to determine economically feasible directions for the development of the oil and gas industries. The schemes also concretize the “target vision of the long-term development” of both industries, as laid down in the Energy Strategy until 2035.
Earlier, Kommersant reported on the draft general scheme for the development of the oil industry. According to the project, oil production in Russia in conditions of depletion of fields and high taxes may go to a constant decline and will never exceed the level reached in 2019.