According to the materials of the Ministry of Energy of the Russian Federation for the energy strategy project, investments in oil production by 2050 will reach 4.5 trillion rubles, which is 1.8 times higher than the level of 2023. The main growth in capital investments is expected in the coming years: by 2025, the volume of investments will amount to 3.8 trillion rubles, which is 1.5 times higher than in 2022.
To ensure production growth, it is planned to actively involve hard-to-recover reserves and expand exploration. By 2050, 23% of production will be provided by increasing the oil recovery coefficient, and 16% by developing new fields.
The Ministry of Energy predicts that global demand for energy resources will continue to grow at least until 2035, which requires an increase in global investments in oil production to $500 billion per year by 2050. Russia aims to maintain oil production at the level of 540 million tons annually, following the basic scenario of long-term development of the industry.