Rosneft reports 106% oil reserves replacement ratio for 2010
MOSCOW. Feb 17 (Interfax) - Rosneft had a 6% reserves replacement ratio for 2010.
The company said in a press release that as of December 31, 2011, it had net proved reserves of 22.765 billion boe, which include 18.110 bln bbl (2.487 bln tonnes) of oil and 27.931 trillion cubic feet (791 bcm) of gas under the PRMS classification. Rosneft had hydrocarbon reserve life of 25 years, including 21 years - for oil and 67 years - for gas.
Rosneft's probable and possible reserves under the PRMS classification were estimated by DeGolyer & MacNaughton at 12.539 billion and 10.484 billion boe, respectively. These reserves include 9.978 billion bbl (1.367 billion tonnes) of oil and 15.369 trillion cf (435 bcm) of gas of probable reserves, and 8.256 billion bbl (1.122 billion tonnes) of oil and 13.367 trillion cf (379 bcm) of gas of possible reserves.
DeGolyer & MacNaughton also performed a reserve audit under the SEC life-of-field classification. Proved reserves were estimated at 15.199 billion boe, including 13.747 billion bbl (1.887 billion tonnes) of oil and 8.709 trillion cf (247 bcm) of gas.
"The audit results confirm Rosneft's global leadership among publicly traded oil companies in terms of liquid hydrocarbon reserves under both PRMS and SEC life-of-field classifications," the company said.
In 2010 Rosneft increased its access to new oil & gas resources, obtaining four licenses to blocks on Russia's Arctic shelf. Large potential of these blocks, which were not included in the company's resource base audit for 2010, will have long-term positive impact on Rosneft's reserves.