Gazprom Neft meets production with PRMS reserve growth of 230% in 2012
MOSCOW. Feb 8 (Interfax) - Gazprom Neft's total proven and probable reserves (including its stakes in joint ventures) under PRMS international standards totaled 2.14 billion tonnes of oil equivalent (toe) (15.87 billion barrels) as of December 31, the company said in a press release.
"Taking into account its production volume for 2012, the replacement level of Gazprom Neft's category 2P hydrocarbon reserves was 438% including new acquisitions, or 230% excluding new acquisitions," it said.
"Category 2P oil reserves increased by 6.19% to 1.68 billion metric tonnes (12.45 billion barrels), while gas reserves increased by 29% to 581.3 billion cubic meters (20.5 trillion cubic feet)," Gazprom Neft reported.
"The main factors behind the growth of reserves in 2012 were the results of geological exploration, a reassessment of reserves at SeverEnergia's fields and license areas located in the Orenburg Region, as well as the acquisition of Gazprom Neft Novyy Port, which owns the license to the Novoportovskoye field," the press release said.
"Gazprom Neft's current reserves-to-production ratio PRMS demonstrates proven hydrocarbon reserves of more than 20 years. The increase in reserves is not only driven by the acquisition of new sites, but is also a result of active exploration. In particular, over the past year we have achieved good results through prospecting and exploration drilling, with a success rate of 83%. Going forward, the start of operations at our major new projects on the Yamal Peninsula, including the Novoportovskoye and Messoyakha projects, will make a significant contribution to our proven reserves base," First Deputy General Director Vadim Yakovlev is quoted as saying in the press release.
The Gazprom Neft group's combined reserves include its stake in the reserves of affiliates, calculated by the equity participation method: Slavneft, Tomskneft, SalymPetroleum Development, SeverEnergia and Messoyakhneftegaz.
