Rosgeologia said that gas in Russia will be enough for 70 years of production, and oil – for 30 years of production, taking into account the current rates, RIA Novosti reports.
“Over the past 25 years, new reserves in Russia have been discovered 10 times less than in the previous 25 years, many Soviet deposits are already being depleted,” the statement says.
In addition, diamonds and zinc will last for 20 years of mining, gold and lead – for 10 years, and chromium, which is used in stainless metal alloys – for less than five years.
Maintaining production at the current level is a strategic task for Russia, since the entire mining sector forms more than 70% of the country’s export revenues. The budget plan until 2036 provides for oil and gas revenues of 8-10 trillion rubles per year.