Russian liquids to 2020: condensate's importance grows
Contrary to many pessimistic predictions, Russian liquids production has reached record levels in the first five months of 2015. The driver behind the growth is condensate, mainly from the Urengoi area in West Siberia. Decline at brownfields will be offset by the development of greenfields and more difficult reservoirs, as well as increased EOR activity. The impact of sanctions will be crucial for Russia’s long-term production outlook post-2020 as it faces a sizeable production gap.