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Abstract
The East Siberian region, which comprises nearly 43% of Russia's territory (including the Sakha (Yakut) republic), has substantial hydrocarbon potential that is impeded by significant logistical problems, the daunting physical environment, and technical challenges posed by the geological complexity of the region. The area's three major oil and gas provinces are the Lena- Tunguska (with the greatest potential), Lena-Vilyuy, and Yenisey-Anabar. The paper focuses on assessment of reserves, production potential, and history, as well as joint-venture activity involving foreign capital. Foreign investment is targeting gas deposits in the Vilyuy basin and elsewhere in the Sakha republic and small oil deposits serving local markets in the Yakutsk and Noril'sk areas. Forecasts do not envisage substantial production of oil from the region before the year 2010. Future gas production levels are less predictable despite the ambitious plans to export gas from Sakha to South Korea.
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