Yearly investment need from oil and gas companies at $ 20 bn

Demand for investments from Russian oil and gas companies is now assessed at $ 20 bn a year, Russia's Deputy Energy Minister Valery Garipov said. Investments are first and foremost needed to prospect for new deposits in the country's oil provinces. Notably, Garipov cited Sakhalin, where oil reserves are estimated at no less than 6 bn tons and the initial requisite investments are put at $ 25 bn.
Other oil provinces mentioned include Khanty-Mansi and Nenets autonomous areas, the Arkhangelsk and Irkutsk regions, the Krasnoyarsk territory, Sakha (Yakutia) and the Barents and Caspian Sea shelfs.