Russia's Gazprom Neft Says Reserves Growth Outstrips Production



Reuters

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)



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