Rosneft: Reserve replacement ratio at end-2012 exceeds 130%
BY LUKAS I. ALPERT
MOSCOW -- Rosneft said its reserve replacement ratio at the end of 2012 had exceeded 130% and that its proven liquid hydrocarbon reserves reconfirm its position as the world' s largest public oil company.
An audit performed by DeGolyer & MacNaughton showed that the company' s hydrocarbon reserves stood at 18,956 Mmboe as of December 31, 2012, with gas reserves having grown 1.3 times from the level seen at the same point a year earlier.
The increase in gas reserves was attributed to the acquisition of gas fields of Itera NGK, Rosneft said.
The same audit also found that the Rosneft' s proven hydrocarbon reserves as of December 31 2012, were 24,091 Mmboe , with recoverable hydrocarbon resources at 201 Bboe 50% increase on the level recorded at the end of 2011. The company said that as of the end of 2012, its reserve life was 21-25 years for oil and 62 for gas.
Dow Jones Newswires