Some 106 million tons of crude oil will be produced in Russia’s Arctic Area in 2017

Some 106 million tons of crude oil will be produced in Russia’s Arctic Area in 2017, Deputy Energy Minister Kirill Molodtsov told a press conference held at TASS.

Russia’s Energy Minister Alexander Novak said that Russia was extracting 93 million tons of crude annually in the Arctic, with output rising year after year. The Minister added that Russia’s main natural gas reserves were located in the Arctic – home to286 billion tons of standard fuel equivalent, or 60% of Russia’s total reserves.

Source: http://tass.ru/ekonomika/4504394