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Hard-to-Recover Reserves 2017



November 27, 2017

Hotel Baltschug Kempinski Moscow

Dear sirs!

CREON Energy has a pleasure of inviting you to the International «Hard to Recover Reserves 2017» Conference.

Date: November 27, 2017

Venue: Hotel Baltschug Kempinski Moscow

Development of hard-to-recover oil reserves in Russia has now become not a tribute to a trend, but a forced necessity. Deterioration of the resource base quality is one of the main problems for the oil industry: in traditional oil regions the reserves are depleting, and there is no growth in sight.

The estimate of low-cost oil reserves in Russia stands at only couple of dozens of years of production. Therefore, the role of hard-to-recover reserves in the economy is steadily increasing. However, complicated preparations are needed to develop them. This includes solid investment, applying innovations in processes and technologies, and changes in tax policy. There is an understanding of HTR’s importance in the Government already: the officials at very different levels are speaking out. But no specific measures that would stimulate HTR production have been proposed to the market so far, which indicates the necessity to elaborate on the comprehensive nationwide program.

At present, oil companies are working in this direction on their own, and certain success has been achieved by now. But this success should be capitalized on, and it is impossible without state support and new E&P technologies. A passive position of the Government and the key market players would mean that HTR development is postponed for long.

CREON Energy encourages everyone to step into discussion of important challenges in the industry and to identify optimal development patterns.

To request more information about the event please contact us by phone +7 (495) 276-77-88, +7 (495) 797-49-07 or e-mail: org@creonenergy.ru

Conference Director: Anna Yagudina, e-mail: Anna.Yagudina@creonenergy.ru

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