OREANDA-NEWS  The total value of Russian natural resources is $100 trillion. This is how the head of Rosneft, Igor Sechin, assessed the country's resource base at the Verona Eurasian Economic Forum, as quoted by TASS.

According to the top manager, Russia's natural resources are twice as large as those of the United States, and thanks to them, reliable supplies to foreign partners are ensured in the long term. The Arctic plays a special role in Russia's resource potential, which Sechin called a storehouse of energy resources not only for Russia, but also for the whole world: the region contains more than 20 percent of all undiscovered oil and natural gas reserves of the planet. 80 percent of them are located in the Russian part.

"I consider it necessary to emphasize that the Arctic should be completely free from conflicts and foreign interference, taking into account the strategic importance of this region for the energy security of the whole of Eurasia," he stressed.

According to the head of the Ministry of Energy Sergey Tsivilev, oil reserves on the shelf in Russia will be enough for production for 32 years. The proven oil reserves in the Arctic amount to about 17 billion tons.

"Even if we extract all the oil now on this shelf, at the volumes that we are currently producing, it will take us 32 years to produce these volumes only on the shelf. And we have 85 trillion cubic meters of gas offshore. This is with the volumes that we have been producing for more than 130 years," the official calculated.

According to the ministry, over a quarter of a century, investments in oil production in Russia will grow 1.8 times to the levels of 2023, reaching 4.5 trillion rubles. The main increase in planned capital investments in the industry will occur in the current and next years — in 2025, the figure will reach 3.8 trillion rubles, which is one and a half times more than last year's figure. In the future, journalists note, investments will increase more smoothly and will reach 4.5 trillion rubles by 2050.