OREANDA-NEWS. On 09 July 2008 was announced, that Anatoly Yanovsky, Deputy Head of the Ministry of Energy informed that the Ministry of Energy would provide the Ministry for Economic Development with a prognosis of oil production in 2009-2011.

A. Yanovsky said to the journalists at the World Oil Congress: “In the nearest future we are to provide the Ministry of Economic Development with a three-year prognosis”. The Deputy Minister said that the Ministry of Energy kept to the expected 1% growth of oil production in 2008. In 2007 the Russian Federation increased oil production by 2.4% - up to 491.5 million tons.

A. Yanovsky noted that in 2009, as the Ministry of Energy estimated, the oil production in Russia would continue its growth. The tempo would be insignificant though higher than 1%. The Deputy Minister says that Russia is now at the stage of stabilizing oil production; however the latest decisions of the government in the sphere of taxation in the oil sector will help to get over the negative tendency. He also believes that implementation of the VSTO project (the Eastern Siberia – the Pacific Ocean Pipeline) will favor the production rate. This project is aimed at active development of the Eastern Siberia deposits which, in the opinion of A. Yanovsky, will influence the total amount of production.