RF oil reserves growth surpasses oil production

The growth of explored oil reserves in Russia exceeded the growth of oil production this year, Head of Minpriroda Yuri Trutnev reports according to FIS. Oil reserves growth in 2007 will total 550 million tons. A total of 44 hydrocarbon deposits were discovered, which ensured the growth of gas reserves by 670 billion cu. m. The state recovered about RUR40 billion (USD1.6 billion) from the auctions on the development of deposits. According to Minpromenergo, oil production is to grow by 2.4% this year against 2006 to 492 million tons.