Lukoil Proved Reserves Stand at 17.3B Barrels

Russia's Lukoil announced Wednesday that an audit has shown its proved hydrocarbon reserves at the end of 2012 stood at 17.3 billion barrels of oil equivalent (boe), which included 13.4 billion barrels of oil and 23.5 trillion cubic feet of gas.

Lukoil said that its replacement of production by proved reserves during the year exceeded 100 percent. Proved reserves were increased due to exploration, production drilling and acquisitions that totaled 703 million boe. Detailed field appraisal in the Northern Caspian and Komi regions were responsible for the greater part of the proved reserves increment, the firm said.

Lukoil added that its probable reserves at the end of 2012 amounted to 7.7 billion boe and possible reserves stood at 4.3 billion boe.

The audit was carried out by US firm Miller and Lents.

 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Woodside Discovers Gas at Thalin-1A We... (Feb 12)
 -  Polarcus Secures 4D Survey Project Off... (Feb 12)
 -  PJSC Ukrnafta Forced to Stop Productio... (Feb 12)
 -  North Energy, Explora Petroleum Combin... (Feb 12)
 -  Niko Closes Sale of North Ganal PSC Of... (Feb 11)


Most Popular Articles

From the Career Center
Jobs that may interest you
Regional Manager - West Texas
Expertise: Civil Engineering|Environmental Engineer|Mechanic|Petroleum Engineering
Location: Sterling City, TX
 
Production Engineer
Expertise: Production Engineering
Location: Odessa, TX
 
Project Engineer
Expertise: Manufacturing Engineering|Production Engineering|Project Engineer
Location: Chesapeake, VA
 
search for more jobs

Brent Crude Oil : $30.06/BBL 2.52%
Light Crude Oil : $26.21/BBL 4.51%
Natural Gas : $1.99/MMBtu 2.92%
Updated in last 24 hours