Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Caspian Reserves 40Bln Tons

ASTRAKHAN — Hydrocarbon reserves found on the Caspian Sea shelf amount to 2.95 billion tons of oil and 3.1 trillion cubic meters of gas, Deputy Prime Minister Sergei Ivanov said Wednesday.

Western companies assess the Caspian geological oil and gas reserves to be between 26 billion and 40 billions ton of oil equivalent, he said. In the future, these resources could prompt an economic boom in the region, Ivanov said. As of now, 10 fields have been discovered at the bottom of the Russian part of the Caspian Sea, which could provide an annual oil production of about 40 million tons, the deputy prime minister said.


Read more

Russia media is under attack.

At least 10 independent media outlets have been blocked or closed down over their coverage of the war in Ukraine.

The Moscow Times needs your help more than ever as we cover this devastating invasion and its sweeping impacts on Russian society.