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Rosneft reports hydrocarbon reserve replacement ratio of 154% in 2014

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Oilfield Technology,

DeGolyer & MacNaughton has carried out an independent audit of Rosneft’s hydrocarbon reserves. According to the results of the audit, performed under the SEC (United States Securities and Exchange Commission) life-of-field classification, as of 31 December 2014 Rosneft’s proven hydrocarbon reserves stood at 33 977 million boe (4595 million toe). These figures put Rosneft's 2014 hydrocarbon reserve replacement ratio under the SEC classification at 154%. The company’s reserves growth was 963 million boe (134 million toe), a 3% from the rate recorded in 2013.

Under the PRMS (Petroleum Resources Management System) classification, hydrocarbon reserves in the 3P category stood at 106 359 million boe (14 428 million toe) as of 31 December 2014. Growth from 2013 amounted to +5.55%. Proven hydrocarbon reserves (1P) stood at 43 085 million boe (5836 million toe). According to the audit, the lifetime of Rosneft's hydrocarbon reserves stands at 24 years.

Adapted from press release by Rosalie Starling

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