* Forecast of 10.54 mln bpd sets a new post-Soviet record
* Last year, Russia produced 10.51 million bpd
* Tight oil seen as Russian oil production renaissance
(Changes sourcing, adds details, background)
By Olesya Astakhova
MOSCOW, Feb 12 Russia expects its oil output to
reach 525 million tonnes (10.54 million barrels per day) this
year, up 0.4 percent from 2013, Deputy Energy Minister Kirill
Molodtsov said - a figure that would set a post-Soviet record
Russia, the world's leading oil producer, added almost 1.4
percent to its crude output last year to reach 10.51 million
bpd, the previous annual post-Soviet record.
"We expect an increase in oil and gas production to 525
million tonnes and 700 billion cubic metres, respectively,"
Molodtsov, a former executive with Gazprom's Shtokman
offshore gas project, told a news conference on Wednesday.
The gas production figure would also set a record since the
collapse of the Soviet Union. In 2013, Russia produced 668
billion cubic metres of gas, with the bulk coming from
state-controlled Gazprom, which meets the quarter of Europe's
Russia has the capacity to ramp up natural gas production
significantly, unlike oil output. Gas output has been closely
following demand, which has been rising in Europe, where Gazprom
agreed to cut prices and where other suppliers of gas, such as
Norway and North Africa, have reduced exports.
Molodtsov said this year, growth in oil will come from the
Taas-Yuriakh assets in East Siberia owned by state-controlled
Rosneft and China's CNPC, as well as from Gazprom Neft
projects and Lukoil's Caspian fields.
Most of Russia's oil production comes from West Siberia,
where many of the Soviet-era fields are now becoming depleted.
Russia's oil production peaked at 11.41 million bpd in 1988
when it was still part of the Soviet Union. It later declined
due to underinvestment and relatively low oil prices.
Moscow is now shifting its focus to greenfield projects in
the Arctic and in East Siberia, which is closer to energy-hungry
Asian markets, and is also testing oil prospects that are harder
to extract, known as tight oil.
The IEA, the West's energy watchdog, expects Russian
production to remain roughly flat at around 10.5 million bpd
until the end of the decade, and then fall to about 9.5 million
bpd by 2035.
The shale oil revolution in the United States has changed
the global energy landscape in just a few years and the country
is now set to overtake Russia as the world's top oil producer.
Russian officials, who neglected shale oil and gas for some
time, are now counting on extraction of tight oil at home, in
particular in West Siberia, to at least maintain output at 10
Russia's Energy Ministry hopes that recent tax breaks to
encourage tight oil production will boost its share to some 11
percent of the Russian total by 2020, from 0.2 percent now.
(Reporting by Olesya Astakhova; writing by Vladimir Soldatkin
and Katya Golubkova; editing by Elizabeth Piper and Anthony