Concerning the deficit of discoveries in petroleum geology
Long-term relationships are discussed between world prices, production, exploration drilling meterage, the number of new field discoveries and the level of replacement of the hydrocarbon resource base in Russia. The causes of the accumulated deficit of new field discoveries and exploration costs of major companies are analyzed. New data on the cost per onshore and offshore work unit are provided; actual volumes and costs required to maintain the resource base for the period up to 2035 are substantiated.