Russia has about 13.2 billion tons of profitable proven oil reserves—enough for roughly 25 years at current production rates.
At the same time, 96% of its subsoil fund has already been allocated, indicating near-full exploitation of available fields.
According to 2024 auction results, one-time payments for hydrocarbon extraction rights amounted to only $50 million—half the revenue generated by placer gold mining, a far less significant sector for the budget. This signals a decline in investor interest in the oil and gas industry.
Over the next 10–15 years, opportunities for further exploration of existing fields will be exhausted. Meanwhile, limited funding and a lack of technology to develop hard-to-reach, geologically complex, and remote regions undermine Russia’s energy and economic security.
