9 Dec 2014 13:05

Russia may add 550 mln tonnes to oil reserves in 5 yrs

MOSCOW. Dec 9 (Interfax) - Russia could add about 550 million tonnes of oil to reserves in the coming five years, Valery Pak, the deputy head of mineral deposits service Rosnedra, told journalists.

"It is expected that reserve increases, regardless of price fluctuations, will be at the level of 550 million tonnes in the medium term outlook, over five years," he said.

Russia is already on that pace this year, Pak said, adding that the final total will only be registered in the first quarter of 2015.

"So this year, most likely, it will be more, somewhere on the level of last year," he said.