"Russia has the biggest shale oil reserves in the world and the ninth largest gas resources, said the Energy Information Administration (EIA) in the U.S., in which shale oil and gas production is booming, after surveying reserves in 42 oil producing countries, Vedomosti reported.
The EIA has released a report putting world shale oil reserves at 354 billion barrels, of which 75 billion are in Russia. The U.S. trails with 58 billion barrels, while China has 32 billion barrels.
Russian reserves are concentrated in the bituminous rock of the Bazhenov deposits in Western Siberia. While copious, they are not easily accessible. Only 6 percent of an estimated 1.24 trillion barrels are considered feasible, according to the EIA. Lukoil, Rosneft, ExxonMobil, Gazprom Neft and Shell all plan to develop the area."
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