Russian Oil and Gas Industry Exceeds Expectations Undeterred by Economic Sanctions and Low Crude Prices

Sponsored by: GlobalData Technology

Focused on:

  • Russia
  • Oil
  • Gas
  • Economic Sanctions

Date: 4 October


Time: 2PM London/9AM New York

Crude production outlook in Russia is dependent on three key factors in the near term: resolution of US/EU sanctions against its upstream interest, continued interest from Chinese and Indian operators in upstream equity positions, and transparent fiscal environment

Since global oil prices began their slide in July 2014, Russian crude production continued to increase setting post-Soviet records. The Russian ruble devaluation aided in lowering both development and lifting costs in Russia and made the country’s producers more competitive as they reached for a larger share of the global market.

A healthy pipeline of Russian projects commencing commercial crude production in 2016 and on ensures that the growth trend continues as the nation’s operators adapt to the low-price reality. The intensification of development activities and growing levels of exploration in Russia also signals operators’ confidence despite continuing US/EU economic sanctions.

Presented by

Anna Belova,

Senior Upstream Analyst - Former Soviet Union

Anna Belova performs economic valuations of currently producing or planned oil and gas assets in Russia and other countries of the Former Soviet Union. In addition, she authors qualitative reports focused on the key assets and developments in the FSU.

Prior to joining GlobalData, Anna defended her PhD in Earth and Environmental Engineering at Columbia University.

Anna also holds a Master of Science in Engineering of Earth Resources from Columbia University, Fu Foundation School of Engineering and Applied Science, and a Bachelor of Arts in Chemistry and Economics from William Jewell College.

Key Learning Objectives

  • What is the current forecast for crude oil production in Russia?
  • What are typical project economics for a greenfield crude project in Russia?
  • What are the projects currently in development in Russia?
  • What impact has the current economic and political situation had on the Russian upstream industry?


  • Heads of Exploration and Production
  • Heads of Planning and Strategy
  • Heads of Research and Analysis
  • Heads of Project Evaluation
  • Heads of Fiscal Analysis
  • Upstream Consulting
  • Marketing and Strategy