MOSCOW, June 2. /TASS/. The decline in subsoil users’ investment in hydrocarbon exploration in 2025 was primarily linked to a reduction in exploration drilling volumes, which remain the main expense item for companies, Russian Natural Resources and Environment Minister Alexander Kozlov said in an interview with TASS ahead of the St. Petersburg International Economic Forum (SPIEF).
"The volume of company investment depends on the production investment cycle: for example, a company may have already invested substantial funds in a particular stage of work the year before, while the next stage may require lower spending. The reduction in investment last year mainly occurred due to a decrease in exploration drilling volumes — the main expense category for subsoil users," Kozlov said.
He noted that this trend was recorded in the Ural, Siberian, and Volga federal districts. "At the same time, these districts continue to maintain leadership in drilling activity volumes compared with other regions," he stressed.
The natural resources minister also noted that over the past five years there has been a positive trend of exploration drilling volumes exceeding appraisal drilling volumes. "The average success rate of exploration drilling amounted to 0.8. At the same time, seismic exploration work (2D seismic surveys) increased to 8,000 linear kilometers," he said.
