Russia's Gazprom Neft Says Reserves Growth Outstrips Production


MOSCOW, Feb 27 (Reuters) – Gazprom Neft, an oil arm of Russian state gas company Gazprom, said on Thursday its proven hydrocarbon reserves rose 12 percent as of the end of last year to reach 1.34 billion tonnes of oil equivalent (9.8 billion barrels).

The company's current proven hydrocarbon reserves-to-production ratio exceeds 20 years, it said, under Petroleum Resources Management System (PRMS) criteria, with replacement over production at 333 percent.

(Reporting by Katya Golubkova, editing by Elizabeth Piper)

Copyright 2017 Thomson Reuters. Click for Restrictions.


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

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Business Development Manager
Expertise: Business Development|Construction Manager|Marketing
Location: Salt Lake City, UT
Project Manager II
Expertise: Estimating|Project Controls|Project Management
Location: Hayward, CA
Business Process Analyst - Delaware Business Process
Expertise: Accounting|Business Analyst|Financial Analyst
Location: Midland, TX
search for more jobs

Brent Crude Oil : $50.2/BBL 3.29%
Light Crude Oil : $47.89/BBL 3.34%
Natural Gas : $2.94/MMBtu 1.37%
Updated in last 24 hours