Assessment of Petroleum Exploration Activity Performed in the Timan-Pechora Petroleum Province

Summary The analysis of the geological exploration efficiency in Timan-Pechora Petroleum Province indicate significant prospects for petroleum potential both in well-studied and infrastructural developed regions too. The poorly studied, areas require further evaluation. The increments in hydrocarbon reserves were significantly lower than the production (2015–2016). Deep drilling efficiency sharply increased during 2010–2014 (more than 500 t/m), began to decrease (to 320 t/m) in 2016. Modern geological exploration revealed, that the deep drilling activity became expensively. The resources quantification indicate, the most promising and favorable exploration licensing areas in the Timan-Pechora Petroleum Province.