Gazprom Bumps Up Offshore Reserves to 4.7 Trillion Cubic Meters

Gazprom's Deputy Chief Executive Valery Golobev said Wednesday that Russia's state-owned oil giant has increased its offshore reserves to 4.7 trillion cubic meters from an estimated 2.5 trillion cubic meters in 2005, reports Dow Jones Newswires.

According to Golobev, Gazprom expects its offshore reserves to reach 10 trillion cubic meters in 2020, by which time the company intends to drill an additional 100 offshore wells, the report noted.