The Russian government granted Yamal Shelf Company the authority to operate two hydrocarbon blocks in the Black Sea without an auction, a decision that is documented on an official portal dedicated to legal information. The allocation is framed as authorization for geological investigation of the subsoil, as well as the exploration and assessment of hydrocarbon deposits in the specified areas. These two districts are identified as Vostochno-Seyakhinsky and Sredneobsky, with their borders tracing the coastline along the Ob Bay at the edge of the Black Sea. The designation underscores the state’s approach to accelerating exploration activities in offshore regions and aligning resource development with strategic national goals. The legal act reflects a broader policy framework that governs subsoil use, licensing procedures, and the monitoring of exploration works to ensure compliance with environmental and safety standards. [Source: Ministry of Natural Resources and Ecology]
In a forward-looking assessment, the Ministry reported an anticipated expansion of Russia’s oil reserves to 600 million tons and natural gas reserves to 675 billion cubic meters in 2022. The official message indicates that this growth is attributed to ongoing geological exploration and the reassessment of existing fields, with exploration programs targeting both conventional reservoirs and potential new accumulations. The figures illustrate a substantial step in strengthening the country’s energy capacity and supply resilience, particularly for offshore regions where technological capabilities are extending the reach of conventional resources. [Source: Ministry of Natural Resources and Ecology]
Concurrently, the Ministry noted a notable rise in investments allocated to hydrocarbon exploration by underground users during the year 2022. The funding level increased from 315 billion rubles to 390 billion rubles, signaling stronger confidence in exploration activities and a more active fiscal stance to support early-stage prospecting, seismic surveys, and pilot development projects. This surge in investment is framed as part of a broader strategy to optimize resource extraction, improve data-driven decision making, and stimulate regional economic activity associated with offshore and coastal basins. [Source: Ministry of Natural Resources and Ecology]