New hydrocarbon deposits discovered in Chechnya, 1st time in 30 years

For the first time in 30 years, new hydrocarbon deposits have been discovered in Chechnya, Rosneft said, Report informs via Russian media.

“Geologists from the Rosneft Science and Technology Center (STC), together with geologists from Grozneftegaz (part of the Rosneft), made the past 30 years’ first discovery of new hydrocarbon deposits in the Chechen Republic. More than 2.5 million tons of oil and 1 billion cubic meters of gas have been put on the state balance of reserves,” Rosneft said.

The company notes that increasing the efficiency of replenishment of reserves is one of the key elements of the Rosneft-2022 strategy, it plans to replenish at least 100% of the produced hydrocarbons.