State Duma to solve problem of oil recovery

Inter-departmental working group of Rosenergo is currently developing the program aiming to stop the fall in oil recovery, which may acquire the federal status this year, FIS reports. The program will help Russia to increase potential oil production by 160 million tons a year and oil reserves up to 4 billion tons by 2020. For this purpose 5 million tons of oil produced using the processes boosting oil recovery shall be made tax-free for 5-7 years. The program's concept was worked out in 2005 on the level of the State Duma's natural resources committee with participation of oil companies' experts and scientists. At present the oil recovery coefficient is 25-28% as compared with 51% in 1960. In the USA, ORC is 45% or higher. The program developers believe Russia is able to do the same by adopting steam-gas, chemical and thermal processes of oil recovery.