“I have to say that oil and gas revenues make up a large part of the Russian budget revenue. This is a serious component for us in addressing economic development, budget funding for our development programmes and, of course, and meeting of our social commitments to our citizens.”
The most commonly accepted definition of proven reserves of oil and gas is “ The quantities of crude oil, natural gas and natural gas liquids which geological and engineering data demonstrate with reasonable certainty to be recoverable in the future from known oil and gas reservoirs under existing economic and operating conditions. They represent strictly technical judgments, and are not knowingly influenced by attitudes of conservatism or optimism,” developed by the Society of Petroleum Engineers. Those proven reserves include both developed and undeveloped reserves.
The biggest proven gas reserves in 2021 were located in Russia (47.800 km3), followed by Iran (34.000 km3), Qatar (23.900 km3), United States of America (17.700 km3) and Turkmenistan (10.000 km3). Saudi Arabia, China, United Arabian Emirates, Venezuela and Nigeria complete the Top 10.
