ABSTRACT
This chapter addresses the questions of the practical ability of the reserves to alleviate significantly the problems of a declining reserves-to-production ratio and to insure long-term petroleum production. The Soviet Union has elicited close scrutiny in the West over its role as both an oil producer and exporter. The production of oil for the Soviet Union is more than just an economic necessity, it is a source of prestige and an instrument of political power. The Soviet Union has tended to benefit from being an oil giant, both in economic and political terms. Soviet planners under Mikhail Gorbachev are considering exploring and developing the country's offshore waters in hope of providing at least a partial solution to experience problems. In most of the petroleum-producing regions of the Soviet Union, the lack of adequate technology and the remoteness of the region are the major impediments. The chapter also presents an overview of the key concepts discussed in this book.
