Drilling Volumes In The Russian Federation Increased By 70% In 2023
The head of Rosnedra, Evgeny Petrov, noted that the data suggests that literally within one to two years, companies will be able to put on their balance sheet a fairly good resource base and mineral reserves, as well as open large deposits.
The volume of well drilling in Russia increased in 2023 compared to 2022 by 70%, and funding for geological exploration is also growing. This was announced by the head of Rosnedra Evgeny Petrov at the plenary session of the conference “Far East and Arctic: Sustainable Development”.
Petrov drew attention to the fact that in the Western and even Russian press there is evidence that geological exploration in Russia is currently declining.
“It must be said that the costs of both the federal budget and subsoil user companies are not falling. And last year they grew by almost 20%,” he said. “Last year, 70% more drilling began than in 2022. And most importantly, the volume of mining operations has increased by more than 100%.”
According to him, these data indicate that literally within one to two years, companies will be able to put on their balance sheet a fairly good resource base and mineral reserves, as well as open large deposits.
“Despite all the pessimism, companies today are investing very actively, because the resource base of our country is a guarantor of economic development. And companies understand this and today do not reduce funding in any way,” added the head of Rosnedra.
