Existing technology should be supported for import independence of Russian oil and gas industry - Gennady Schmal

UFA, 20 May 2015. /Bashinform News Agency, Elvira Latypova/. In Russia there are state-of-the-art technologies of scavenger oil extraction. Some of the technologies are presented at the exhibition "Gas. Oil. Technology" held in Ufa. There is a "very interesting technology related to the extraction of the unusual formations" and such technology "must be fully supported". This was said at the "Import Substitution in Energy Sector" roundtable by the President of the Union of Oil and Gas Producers of Russia Gennady Schmal.

According to Gennady Schmal, one of the main areas of reserves growth is the development of deposits of the Bazhenov Formation. It spread throughout Western Siberia on the area of about 1 million square kilometres. "Its potential resources are 170-200 billion tons. But it’s a great distance from the resources to reserves. We have to think how to extract them”, Gennady Schmal said. “Using the existing technology we can extract perhaps 3-4 percent. The rest will remain in the ground. We need new technologies. It is necessary to support the companies that are engaged in this business".

Among the most important aspects of import substitution in industry the need for more funding of scientific research and harmonization of national standards with those of the partner countries was also marked.

The "Gas. Oil. Technology" exhibition is one of the key events of the Week of Petrochemicals in the Republic of Bashkortostan. It is taking place "VDNkH-Expo" complex on May 20-23.