The Russian Arctic oil reserves that Rosneft has the potential to tap exceed 20 billion metric tons, said Igor Sechin, head of the company, at a session of the St. Petersburg International Economic Forum.  

"The Russian Arctic oil reserves that Rosneft has the potential to tap exceed 20 billion metric tons," Sechin said.

"This figure includes projects in the Kara Sea, where I believe after drilling we would come up with the figure of over 15 billion metric tons of oil reserves, and projects to the north of the Krasnoyarsk Territory, where we expect to make great discoveries and carry out ambitious projects… which will make a serious impact on the world's oil industry," Sechin said.