Russia announces gas reserves sufficient for over 100 years

Licenses for exploration and extraction

The country currently holds 4,052 licenses for geological surveys, exploration, and hydrocarbon extraction, which are distributed among 747 investors in the natural resources sector.

Oil reserves in Russia

Regarding oil, Kozlov stated that Russia ranks fifth globally in reserves, estimated at 31.4 billion tonnes. These oil reserves would last approximately 64.5 years at the current production rate.