OREANDA-NEWS. On 21 March 2008 was announced, that the Concept of social and economic development of Russia up to 2020 developed by the Russian Economic Ministry says that “East Siberia-Pacific Ocean” oil pipeline system is a priority pipeline project of oil and gas industry of Russia.

The Concept positions the realization of the pipeline construction perspective projects, investing in development of oil fields and transport infrastructure, building and development of new major centers of oil and gas production, advancement of the efficiency of energy resources utilizing in economy brunches and applying of up-to-date technologies in upstream and downstream as priority directions.

Besides, priority pipeline projects include commissioning of Burgas-Aleksandroupolis and Khariaga-Usa pipelines and expansion of CPC capacity.

According to developers of the Concept the main challenges of oil and gas industry is production decline, necessity of production compensation by stock addition, lack of energy and transport infrastructure. Completion of ESPO construction is the only thing to do to resolve the issue. Being commissioned the ESPO will allow to create system for providing of the East Siberia and the Far East requirements and oil export to APR.

According to prognosis by 2020 oil production level in Russia will come to 500-545 million tons compare to 491 m/t in 2007.

Deputy head of the Minister of economic development and trade Popova A.V. informed that The Concept had been distributed to ministries and authorities interested.