22 May, 11:45–13:00

Russia possesses the world’s largest reserves of shale formations, with the Bazhenov field alone estimated to have reserves equating to 2,300 billion barrels. Moreover, a number of performing fields will shift to secondary and tertiary production over the coming decades. However, major Russian energy firms have only recently begun to explore methods to enhance extraction techniques. What are the challenges in bringing Russia’s unconventional extraction online? How might these approaches be adapted to increase the production life of mature fields, and what might be the combined impact on Russia’s energy sector?


Key moments

“The next great challenge – which is also a great opportunity – for this market, are unconventional resources. There is a great deal of innovation and creativity here in Russia.”
Clay Williams
“As you start to deploy more and more resources in the Arctic, innovating and using new technologies will be key to keeping costs down to ensure we have faster deployment.”
Pal Erik Sjatil
“The existing administrative barriers to exploration are essentially unnecessary. Lifting these barriers is a challenge we are facing now.”
Kirill Molodtsov
“Obviously, we need to create a competitive environment. We need to change the tax legislation and we need to encourage companies to turn their attention to these [unclaimed] resources and invest in them.”
Andrey Kuzyaev
“Our challenge is to take advantage of all the learning available – we have the scientists, we have the R&D centers, but we have to do a better job of sharing with other companies.”
Eric Liron
“Given time, the oil services market will be just as attractive as the North American market.”
Alexander Dyukov