Moscow (Platts)--17Feb2011/1014 am EST/1514 GMT
Russia's largest oil producer, Rosneft, Thursday said it had fully replaced its oil reserves in 2010, with the reserves replacement ratio amounting to 106% under PRMS classification. According to independent audit by DeGolyer & MacNaughton, Rosneft's proved reserves are estimated at 22.765 billion barrels of oil equivalent under the PRMS classification as of December 31, 2010. The figure includes 18.110 billion barrels (2.487 billion mt) of oil and 27.931 trillion cubic feet (791 billion cubic meters) of gas. Rosneft's probable and possible reserves under the PRMS classification were estimated at 12.539 billion boe and 10.484 billion boe, respectively. These reserves include 9.978 billion barrels (1.367 billion mt) of oil and 15.369 Tcf (435 billion cu m) of gas of probable reserves. Possible reserves include 8.256 billion barrels (1.122 billion mt) of oil and 13.367 Tcf (379 billion cu m) of gas of possible reserves. Under the SEC life-of-field classification, Rosneft's proved reserves were estimated at 15.199 billion boe, including 13.747 billion barrels (1.887 billion mt) of oil and 8.709 Tcf (247 Bcm) of gas, according to the DeGolyer & MacNaughton audit. Rosneft had a hydrocarbon reserve life of 25 years, including 21 years for oil and 67 years for gas, the company said in a statement. "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," Rosneft said. The company added it had increased its access to new oil and gas resources in 2010, obtaining four licenses on Russia's Arctic shelf. The great potential of these blocks, which were not included in the company's resource base audit for 2010, would have a long-term, positive impact on its reserves, Rosneft added.--Nadia Rodova, nadia_rodova@platts.comSimilar stories appear in Oilgram News. See more information at http://bit.ly/OilgramNews