Country report
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130 Pages

Russian Federation upstream summary


Russian Federation upstream summary

Report summary

Russia is one of the top oil producers in the world, alongside Saudi Arabia and the US. It has the world's largest commercial gas reserves and is the second largest gas producer globally, behind the US. Domestic players, in particular state-owned Rosneft and Gazprom, dominate the Russian oil and gas industry. IOCs are present in only a handful of projects - typically those which are high-cost and technically challenging, such as Yamal LNG and the Sakhalin PSC developments. In December 2016, Glencore and the Qatar Investment Authority purchased a 19.5% stake in Rosneft from the state.

What's included?

This report includes 2 file(s)

  • Country Overview PDF - 12.47 MB 130 Pages, 58 Tables, 29 Figures
  • Country Overview XLS - 2.43 MB

Description

Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key upstream issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream summary is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Key facts
  • Location maps
  • Key companies
    • Reserves
    • Production
    • Capital expenditure
    • Acreage
  • Geology
    • Summary
    • West Siberia
      • Overview
      • Central
      • South Kara/Yamal Northern region
      • Omsk/Nyurolka
      • Yenisey/Bor
      • Yenisei-Khatanga
      • Reservoirs
    • Timan-Pechora
      • Overview
      • Reservoirs
    • Volga-Urals
      • Overview
      • Structure
      • Reservoirs
    • East Siberia
      • Central area
      • Reservoirs
      • Vilyui basin
      • Northern area
      • Source rocks
    • Far East
      • East Sakhalin basin
      • West Kamchatka basin
    • Baltic
    • North Caucasus
      • Structure
      • Reservoirs
    • Precaspian
      • Reservoirs
    • Barents
      • Reservoirs
      • Source rocks
  • Exploration
    • Licensing
    • Summary
    • Recent exploration trends
      • West Siberia
      • Volga-Urals
      • East Sakhalin
      • East Siberia
      • Caspian
    • Licensing
      • Early days
      • Awarding of licences
      • Strategic fields
      • Recent developments
    • Historical onshore exploration activity
    • Offshore exploration
      • Activity
    • Barents Sea
    • Pechora Sea
    • Kara Sea
    • Laptev Sea
    • Chukchi Sea
    • Sea of Okhotsk
  • Reserves and resources
    • Summary
    • Russian (ABC1) classification
      • Oil reserve estimate
      • Gas reserve estimate
    • Revision of Russian oil and gas reserves classification
    • Oil and gas reserves overview
    • Liquids reserves and resources
    • Gas reserves and resources
    • Reserves by analysis
  • Production
    • Oil and condensate
      • Summary
      • Historical production
      • North Caucasus
      • Volga-Urals
      • West Siberia
      • Timan-Pechora and Barents
      • East Siberia
      • Far East
      • Precaspian
      • Baltic
      • Key Assets
    • Natural gas liquids (NGLs)
    • Gas
      • Summary
      • Historical production
      • North Caucasus
      • Volga-Urals
      • West Siberia
      • Timan-Pechora and Barents
      • East Siberia and Far East
      • Precaspian
      • Key assets
  • Infrastructure
    • Introduction
    • Oil infrastructure
      • Druzhba
      • Baltic Pipeline System (BPS)
      • CPC pipeline
      • East Siberia Pacific Ocean (ESPO)
    • Transneft
      • Transneft-Ural
      • Severo-Zapadniye Magistralniye Nefteprovody (SZMN)
      • Transneft-Verkhnyaya Volga
      • Severniye Magistralniye Nefteprovody (SMN)
      • Transneft-Druzhba
      • Transneft-Privolga
      • Chernomortransneft (Black Sea, Precaspian & Caucasus)
      • Transneft-Baltika
      • Transneft-Yugra
      • Transneft-Tsentralnaya Sibir
      • Transneft-Zapadnaya Sibir
      • Transneft-Vostok
      • Transneft-Dalni Vostok
      • Novorossiisk (Black Sea)
      • Primorsk (Baltic Sea)
      • Kozmino Bay (Far East)
      • Ust-Luga (Baltic Sea)
      • De Kastri (Far East)
      • Prigorodnoye (Far East)
      • Varandei (Timan-Pechora)
      • Svetliy (Kaliningrad)
    • Rail transport
    • Road transport
    • Oil refineries
    • Gas infrastructure
      • Existing pipelines
      • Brotherhood system
      • Northern Lights system
      • Yamal-Europe pipeline
      • Bovanenkovo system
      • Nord Stream
      • Soyuz system
      • Blue Stream
      • Sakhalin-Khabarovsk-Vladivostok (SKV)
      • Proposed pipelines and pipelines under construction
      • Power of Siberia
      • Power of Siberia 2 (Altai)
      • Nord Stream 2
      • South Stream
      • TurkStream
    • Gas processing and condensate stabilisation plants
      • Gazprom
      • SIBUR
      • LUKOIL
      • NOVATEK
      • Surgutneftegas
      • Other GPPs
    • Underground gas storage
  • Costs
    • Capital costs
      • Capital expenditure by location
    • Operating costs
      • Operating expenditure by location
  • Policy and regulation
    • Key legislation
    • Summary
    • Key legislation and regulatory bodies
      • Law On the Subsoil
      • Law On the Continental Shelf
      • Law On Gas Supply
      • Law On Gas Exports
      • Law On Natural Monopolies
      • Foreign Strategic Investments Law
      • Tax Code
      • Customs Code
    • Other legislation
      • International treaties
    • Regulatory body
      • Ministry of Energy
      • Ministry of Natural Resources
      • Ministry of Economic Development
      • Federal Tariff Service
    • State participation
      • National Oil Company
      • Oil Transportation Companies
      • National Gas Company (Gazprom)
    • International boundaries
    • Licensing
  • Fiscal terms
    • Overview
    • Standard fiscal regime (concession)
    • Production sharing contract regime (PSC)
    • Current fiscal terms
    • Standard fiscal regime (concession)
    • State equity participation
      • Participation rate
      • Carry and reimbursement
    • Bonuses, rentals and fees
      • Signature Bonuses
      • Production bonuses
      • Area rentals (Regular Payment for Subsoil Use)
      • Other bonuses and fees
    • Indirect taxes
      • Value-Added Tax (VAT)
      • Import Duties
      • Land tax
      • Social development levies
    • Royalty and other production taxes
      • Mineral Extraction Tax (MET)
      • Oil MET
      • Gas and condensate MET
    • Export Duties
      • Crude oil
      • Natural Gas
      • Liquefied Petroleum Gas (LPG)
    • Offshore terms (from 1 January 2016)
    • LNG terms
      • Yamal LNG
    • Environmental / CO2 taxes
    • Domestic Market Obligation (DMO)
    • Contractor Revenue Entitlement
    • Liquids and natural gas pricing
      • Liquids pricing
      • Natural gas pricing
    • Corporate income tax
      • Tax Rate
      • Taxable Income
      • Depreciation
      • Abandonment costs
      • Loss Carry Forward
    • Additional Profits Tax
    • Fiscal/Contractual Ring-Fences
    • Dividend Withholding Tax
    • Other Taxes
      • Property tax
    • Marginal government take calculation
    • Standard PSC regime
    • State equity participation
    • Bonuses, rentals and fees
      • Bonuses
      • Rentals
    • Indirect Taxes
      • Value-Added Tax (VAT)
      • Import Duties
      • Land tax
      • Social development levies
    • Royalty and other production taxes
      • Mineral Extraction Tax (MET)
      • Oil MET
      • Condensate MET
      • Gas MET
    • Export Duty
    • Domestic Market Obligation (DMO)
    • Cost recovery
      • Cost recovery ceiling
      • Recoverable costs
      • Non-recoverable costs
      • Cost Carry Forward
    • Profit sharing
    • Contractor revenue entitlement
    • Liquids and natural gas pricing
      • Liquids pricing
      • Natural gas pricing
    • Corporate (or petroleum) Income Tax
      • Tax Rate
      • Taxable Income
      • Loss Carry Forward
    • Additional Profits Taxes
    • Fiscal/Contractual Ring-Fences
    • Dividend Withholding Tax
    • Other Taxes
      • Property tax
    • Marginal government take calculation
    • Historical background
    • Standard fiscal regime (Russia Concession)
      • Royalty
      • Resource Replacement Tax
      • Oil Excise Tax
      • Gas Excise Tax
      • Housing Tax
      • Sales Tax
      • Road Tax
      • Education Tax
      • Militia Maintenance Tax
      • Minor Turnover Taxes
      • Advertising Tax
      • Loss Carry Forward (Taxable Income)
      • VAT
      • Oil Export Duty
      • Gas Export Duty
      • LPG Export Duty
      • Oil Mineral Extraction Tax (MET)
      • Gas Mineral Extraction Tax (MET)
      • Condensate Mineral Extraction Tax (MET)
      • Corporate Income Tax (CIT)
    • Production Sharing Regime (Direct-Sharing Mechanism)
    • Production Sharing Regime for small fields

In this report there are 87 tables or charts, including:

  • Executive summary
    • Liquids Production by Region
    • Gas Production by Region
  • Key facts
    • Key facts: Table 1
  • Location maps
    • Country Map
  • Key companies
    • Remaining Commercial and Technical Reserves at 01/01/2017
    • Liquids and Gas Production 2017
    • Capital Expenditure 2017
    • Net Acreage 2017
  • Geology
    • Map of Oil & Gas Provinces (West)
    • Map of Oil & Gas Provinces (Central)
    • Map of Oil & Gas Provinces (East)
    • Timan-Pechora stratigraphic chart
    • Volga-Urals stratigraphic chart
  • Exploration
    • Licences issued and reissued (1996-2016)
    • Blocks awarded (2016)
    • Russian Arctic offshore blocks map
  • Reserves and resources
    • Reserves and resources: Table 1
    • Remaining and Produced Commercial Liquids and Gas Reserves at 01/01/2017
    • Reserves and resources: Table 2
    • Reserves and resources: Table 3
    • Reserves and resources: Table 4
  • Production
    • Liquids Production by Region
    • Production: Table 1
    • Production: Table 2
    • Liquid production by key assets
    • Production: Table 3
    • Production: Table 4
    • Liquids Production
    • Gas Production by Region
    • Production: Table 5
    • Production: Table 6
    • Gas Production
    • Production: Table 7
    • Production: Table 8
  • Infrastructure
    • Key oil pipelines
    • Infrastructure: Table 1
    • Transneft operating divisions (West)
    • Transneft operating divisions (Central)
    • Trans-Siberia operating divisions (East)
    • Key sea export terminals
    • Infrastructure: Table 2
    • Infrastructure: Table 3
    • Gas Infrastructure Map
    • Underground gas storage (UGS) Map
  • Costs
    • Costs: Table 1
    • Costs: Table 2
    • Costs: Table 3
    • Costs: Table 4
  • Policy and regulation
    • International Boundaries - Caspian Sea (Azerbaijan and Kazakhstan)
  • Fiscal terms
    • Fiscal terms: Table 1
    • Fiscal terms: Table 2
    • Fiscal terms: Table 3
    • Fiscal terms: Table 4
    • Fiscal terms: Table 5
    • Fiscal terms: Table 6
    • Fiscal terms: Table 7
    • Fiscal terms: Table 8
    • Fiscal terms: Table 9
    • Fiscal terms: Table 10
    • Fiscal terms: Table 11
    • Fiscal terms: Table 12
    • Fiscal terms: Table 13
    • Fiscal terms: Table 14
    • Fiscal terms: Table 15
    • Fiscal terms: Table 16
    • Fiscal terms: Table 17
    • Fiscal terms: Table 18
    • Fiscal terms: Table 19
    • Fiscal terms: Table 20
    • Fiscal terms: Table 21
    • Sample cash flow (Concession regime)
    • Fiscal terms: Table 23
    • Fiscal terms: Table 24
    • Sample cash flow (PSC regime)
    • Fiscal terms: Table 26
    • Fiscal terms: Table 27
    • Fiscal terms: Table 28
    • Fiscal terms: Table 29
    • Fiscal terms: Table 30
    • Fiscal terms: Table 31
    • Fiscal terms: Table 32
    • Fiscal terms: Table 33
    • Fiscal terms: Table 34
    • Fiscal terms: Table 35
    • Fiscal terms: Table 36
    • GEM models
    • Fiscal terms: Table 38
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