Bloomberg News

Russia Says Arctic Surveys May Add to its Continental Shelf

February 01, 2012

Feb. 1 (Bloomberg) -- Geographic surveys conducted in 2011 in the Russian Arctic could add as much as 1.2 million square kilometers (463,000 square miles) to Russia’s continental shelf, according to the Natural Resources Ministry.

The research could “facilitate Russia’s right to develop rich hydrocarbon reserves” in the Arctic Ocean, the ministry said today in an e-mailed statement, citing a report by Anatoly Ledovskikh, the head of the subsoil resources agency known as Rosnedra.

Oil and gas exploration across Russia in 2011 is expected to add 700 million metric tons of crude and gas condensate and 1.1 trillion cubic meters of natural gas to the country’s reserves, according to the statement. Russia produced 511 million tons of crude and condensate and 638 billion cubic meters of gas in 2011, the ministry said.

--Editors: Rachel Graham, Randall Hackley

-0- Feb/01/2012 08:28 GMT

-0- Feb/01/2012 09:00 GMT

To contact the reporter on this story: Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net -0- Feb/01/2012 08:11 GMT


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