Russia’s oil supply outlook

Start-up dates and production performance of seven technically challenging oil fields will determine what, if any, growth in Russian supply occurs at the end of this decade.That is a key conclusion of “Russian Oil Supply-Performance and Prospects,” Oxford University Press, mid-2005, by seasoned Russian analyst John D. Grace of Earth Science Associates, Long Beach, Calif.Fields already on production are capable of maintaining Russia’s 2004 production level, a bit above 9 million b/d, for several years.Challenges for the seven Russian projects include offshore arctic or subarctic environments, complex geology, and remote locales in very hostile climates, Grace wrote.&ldquo...

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