Increasing geological exploration key to developing Russian offshore mineral deposits - Patrushev

NARYAN-MAR. May 15 (Interfax) - Increasing geological exploration is a key task for the development of offshore and deep water mineral deposits, said Nikolai Patrushev, Russian presidential aide and head of the Maritime Board.

"Increasing geological exploration is one of the most important tasks for the development of offshore and deep water fields," he said at a meeting of the Maritime Board's Council for the Development and Support of Marine Activities.

He said the completion of the first stage of the relevant federal project, being carried out by the Russian Natural Resources Ministry, has made it possible to intensify the exploration of unlicensed subsoil resources, including in the Arctic zones.

"Ongoing geological exploration on the Russian shelf generally ensures that reserves replacement rates can be maintained. Today, such work has significantly decreased and stabilized at 10,000 to 15,000 linear kilometers per year," Patrushev said.

Work used to be carried out with a view to the long term, but now the focus is shifting from large-scale drilling of new wells to ramping up existing projects. Companies are only exploring areas where they plan production in the next five to 10 years, Patrushev said.

He said a lack of modern geological exploration research vessels was severely limiting the scope for working in deep water areas. "The vessels we have are very obsolete, with an average age of over 30 years. This current situation poses risks to the replenishment of the mineral resource base in the long-term," Patrushev said.