Russian Oil Production is Preparing to Break the Post-Soviet Record, Media Writes
In the first 11 months of 2023, Russia drilled oil wells with a total depth of 28.1 thousand kilometers, which indicates successful resistance to Western sanctions, Bloomberg writes.
The accelerated pace of drilling in Russia may break the post-Soviet record, the publication emphasized. According to analysts from Kpler and the consulting company Yakov and Partners, in 2023 the volume of production drilling in the country will exceed 30 thousand kilometers.
“The frantic pace of drilling against the background of a fairly static level of production indicates a number of long-term problems that may arise for the Russian oil sector as a result of the international isolation of Moscow,” the text of the publication says.
Previously, the United States imposed sanctions against dozens of companies producing drilling equipment and developing new oil production technologies in order to limit Russia’s future production potential. The European Union, in turn, introduced restrictions on the export of equipment and technology for the Russian energy sector. However, the data obtained indicate that the restrictive measures have largely failed, the publication concluded.
