Observations on the Russian Oil Sector in 1992 and 1993 |
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| Abstract: | Russia still is one of the world's major petroleum-producing countries, but output declined precipitously from the peak in 1987 of 569.5 million tons to 260.2 million tons for the first nine months of 1993 (projected at 340 million tons for the year). The crisis in the oil sector is due largely to the underlying political, economic, and organizational problems rather than to deficiencies in the oil reserve base or technology. Major oil-producing regions-West Siberia and Volga-Urals provinces—are identified, and within these regions, geology, reserve size, and major production associations are described. Other noteworthy areas covered in greater detail are the oil fields of Komi and Sakhalin. Concluding sections are devoted to a critical assessment of the Russian government's program to arrest the decline in oil output and to projecting output over the near future based largely on production trends that are appparent in November 1993. Estimates indicate that oil output in Russia will continue to decline throughout 1993 and 1994, and conceivably in 1995 as well. |
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