OREANDA-NEWS  Russia has enough oil reserves for 62 years, but this does not mean that it will run out over these decades. This was stated by Russian Deputy Prime Minister Alexander Novak. He was quoted by TASS.

They drew attention to the presentation that Novak presented at the meeting with the students. It follows that currently the profitable reserves of Russian oil amount to about 15 billion tons, which will last for 32 years. As for the geological recoverable reserves of this hydrocarbon, it is about 31 billion tons, which will last for 62 years.

Novak urged not to forget that in Russia, thanks to geological exploration and drilling, additional volumes of oil are being balanced. In his opinion, the main task is to provide the country with reserves for 30-50 years and maintain such a balance.

"Therefore, the government and the Ministry of Natural Resources, our geologists are constantly drilling and looking for oil," RIA Novosti quoted the Deputy Prime Minister as saying.

At the end of September last year, Russian Energy Minister Sergei Tsivilev stated that only half of Russia's total oil reserves are profitable from the point of view of geological exploration.