Russia added more recoverable oil and gas reserves in 2025 than it produced, underscoring the resilience of its upstream sector despite sanctions and market constraints continuing to reshape export strategies.
Russian oil and gas companies discovered 36 new hydrocarbon fields this year, lifting recoverable reserves by 666 million metric tonnes of crude oil and 686 billion cubic meters (bcm) of natural gas, Natural Resources Minister Alexander Kozlov said. Earlier projections by Rosnedra had estimated reserve additions of 510 million tonnes of oil and 635 bcm of gas.
The largest discoveries were the Tolavay gas condensate field in Yamalo-Nenetskiy autonomous district, holding 54.4 bcm of gas and 20.4 million tonnes of condensate, and the Mezeninskoye gas field in Krasnoyarsk Krai with 49.7 bcm of gas. Several smaller fields were also identified, including the medium-sized Ust-Byiryukskoye (14.3 bcm of natural gas and gas condensate) and Erkutayahskoye (11.6 million tonnes of oil) fields, while the remaining discoveries were classified as small by the ministry.
Russia’s oil output in 2025 is expected to total about 516 million tonnes, broadly flat from 2024, Deputy Prime Minister Alexander Novak has said. Production could rise by around 2% in 2026 to 525 million tonnes, with medium-term targets of 540 million tonnes annually. President Vladimir Putin has previously indicated that 2025 production could fall closer to 510 million tonnes due to Russia’s commitments under the OPEC+ agreement.
Natural gas production is forecast at 680.2 bcm in 2025 by the Ministry of Economic Development of Russia, while the International Energy Agency estimates output at about 690 bcm, slightly above 2024 levels.
The reserve additions imply a well-above-100% reserve replacement ratio for crude oil in 2025. For natural gas, however, replacement is only marginally above production, highlighting growing challenges for Russian producers in replenishing gas reserves.
While this is unlikely to threaten Russia’s position as a leading gas producer in the near to medium term, sanctions and intensifying competition in global LNG markets have curtailed export opportunities. As a result, Russian gas producers led by Gazprom are redirecting exports and prioritising domestic gasification, infrastructure expansion, and demand growth at home. Still, rising domestic consumption is unlikely to fully offset declining international sales, leaving reserve replacement a secondary concern compared with market access and monetisation challenges.
The Eurasian Links 