28 Oct 2010 13:07

Gazprom plans to grow reserves by 560.2 mln tsf in 2010

RAZVILKA (MOSCOW REGION). Oct 28 (Interfax) - Russian gas giant Gazprom plans to increase its reserves by 560.2 million tsf (tonnes of standard fuel) this year, company executive Sergei Karnaukhov said during the conference World Gas Resources and Reserves and Perspective Technologies for their Development being held at VNIIGAZ.

Karnaukhov said he is confident that this plan for the year will be fulfilled.

Gazprom's spending on geological prospecting this year will total 78.6 billion rubles, including 54.8 billion for work done in Russia and 23.8 billion for work done elsewhere.

The company has been given the job of making sure reserves exceed extraction, Karnaukhov said. The extraction plan for this year is roughly 520 billion cubic meters (bcm) of gas. Karnaukhov did not exclude the possibility that actual production might come to somewhat less than that, but did not say by how much.