RT News – According to declassified data Russia holds 17 billion tons of oil and 48 billion cubic meters of gas. Moscow believes revealing the extent of the vast reserves will lead to a surge of investment in the extraction and production of hydrocarbons. The country’s recoverable oil reserves in the C1 category (proven reserves) totals 17.8 billion tons; category C2 (preliminary estimated reserves) is 10.2 billion tons, according to data collected on January 1, 2012. Meanwhile, gas reserves were equally bountiful at 48.8 trillion cubic meters C1 category; gas stores of the C2 category is estimated at 19.6 trillion cubic meters. The Minister of Natural Resources of the Russian Federation Sergey Donskoy said the resource potential for these kinds of mineral resources remains one of the most significant in the world. “I am convinced that the opening of this data will give a powerful impetus to investment in reproduction and production of hydrocarbons,” he said. He also added that Russia’s potential for the mineral resources is one of the most significant in the world. Read Article
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