Natural resources
Ministry of Natural Resources estimates Russian Arctic shelf oil deposits
© RIA Novosti. Alexei Danichev

Ministry of Natural Resources estimates Russian Arctic shelf oil deposits

Research on the crude oil deposits in the Russian Arctic shelf suggest that the region holds an estimated 1.7 billion metric tons of oil and 13.2 trillion cubic meters of natural gas, the TASS news agency reports, quoting officials at the Ministry of Natural Resources and Environment.

Ministry officials said this data had been obtained from 287 exploratory wells on the continental shelf, including 89 wells in the Russian Arctic.