Lack of Technology Undermines russia’s Energy Security

The rf has about 13.2 billion tons of profitable proven oil reserves, which at current production rates will last for approximately 25 years. At this, 96 % of the mineral resources have already been allocated, indicating that almost all available deposits have been exploited.

According to the results of the 2024 auctions, one-time payments for hydrocarbon production rights amounted to only $50 million, which is half as much as the revenue from placer gold mining, a sector of lesser importance to the budget. This signals a decline in investor interest in the oil and gas industry.

Over the next 10–15 years, the potential for further exploration of existing deposits will be exhausted. At the same time, limited funding and a lack of technology for developing hard-to-reach, geologically complex, and remote regions undermine the rf’s energy and economic security.