Companies from Russia’s Khanty-Mansi Autonomous Area (Yugra) and the United Arab Emirates (UAE) will work together on developing solutions for extracting hard-to-recover oil reserves. The agreement was reached during the Innoprom international industrial exhibition, Yugra Governor Ruslan Kukharuk announced on his Telegram channel.
“Yugra is taking part in Innoprom. We are creating conditions to strengthen the position of Yugra’s companies on the international market and to develop advanced technologies at our local enterprises. Together with the United Arab Emirates, we will work on joint solutions in the field of hard-to-recover oil extraction. We will also explore opportunities for Yugra’s oilfield service companies to enter the UAE market,” Kukharuk wrote.
Yugra is one of Russia’s key oil and gas regions and one of the largest oil-producing areas in the world (ranked first in oil production and second in gas production in Russia). Revenues from oil extraction account for more than 70% of the region’s budget. Since 1964, over 13 billion tonnes of oil have been produced in Yugra.
In 2023, the region produced 216 million tonnes of oil — down 3.2% from 2022. According to regional authorities, production in 2024 amounted to around 205 million tonnes, with 212 million tonnes expected in 2025 and about 210 million tonnes projected for both 2026 and 2027. Earlier, regional officials noted that the decline in output is partly due to the OPEC+ agreement.
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Based on TASS materials