Russian oil reserves grew 470 mln tonnes, gas 630 bcm in 2023 - agency

MOSCOW. Jan 9 (Interfax) - Oil reserves in Russia are expected to have increased by 470 million tonnes with production of 527 million tonnes in 2023, federal subsoil agency Rosnedra said.

Gas reserves could have grown by 630 billion cubic meters with forecast production of 642 bcm.

The agency said 43 hydrocarbon deposits were discovered in 2023 with total reserves of 43 million tonnes of oil and 145 bcm of gas.

Total recoverable reserves in the Arctic are about 9 billion tonnes of oil, 51 trillion cubic meters of natural gas and 2.5 billion tonnes of condensate, it said. "Unallocated subsoil resources contain only 4% of the oil reserves and 2% of natural gas reserves," Rosnedra said.

Hydrocarbon production provided 57.1 million tonnes of cargo for the Northern Sea Route in keeping with current project documentation in 2023, including 20.2 million tonnes oil, 4.4 million tonnes condensate and 32.5 million tonnes liquefied natural gas.