This paper discusses the most important aspects of the development of the oil and gas industry in Russia. To replace declining oil production in Russia, we need to change the obsolete paradigm of the development of the domestic resource base. In the twenty-first century, the priority tasks in the search for oil deposits should be the Russian Arctic shelves and immature onshore provinces as well as unique unconventional oil accumulations (Bazhenov, Domanik, Khadum, Kuonamka Formations, etc.). In addition, special focus should be placed on the exploration of small and smallest oil and gas fields, which will be developed with the collaboration of small- and medium-sized oil businesses to ensure up to 20% of domestic oil production. The shift from extensive to intensive development of Russias oil and gas sector will require the prioritizing of technological tasks.
Main directions in the development of Russia’s oil sector in the first half of the XXI century