As of December 31, 2017, the Rosneft SEC (United States Securities and Exchange Commission) proved hydrocarbon reserves achieved 39,907 mmboe (5,395 mmtoe). The hydrocarbon reserves elevated by 2,135 mmboe (284 mmtoe) or by 6% in comparison with the reserves on the finish of 2016. The audit, which supplied for the reserves estimation until the top of fields business life, was carried out by DeGolyer&MacNaughton.
By the top of 2017, Rosneft’s SEC proved reserves life totaled about 20 years. The natural SEC confirmed hydrocarbon reserves alternative ratio was 184% in 2017.
For a number of years Rosneft stays the chief among the many largest public worldwide oil and fuel firms with a big margin by way of confirmed reserves life and alternative ratio. At the identical time, the Company demonstrates the bottom discovering and growth prices amongst worldwide friends.
Under the PRMS (Petroleum Resources Management System) classification, as of December 31, 2017, the Company’s 1? hydrocarbon reserves stood at 46,520 mmboe (6,303 mmtoe), 2? – 83,838 mmboe (11,357 mmtoe), three? – 120,853 mmboe (16,386 mmtoe). 1P reserves grew by 1%, 2P reserves development was 2%, whole 3P reserves elevated by four% over 2017.
For a few years, Rosneft has constantly supplied excessive ranges of present manufacturing alternative with incremental reserves. In 2018-2022, the Company intends to interchange not lower than 100% of the produced hydrocarbons. At the identical time, accelerated reserves growth is predicted with a discount within the time of initiatives preparation, assets conversion to reserves bearing in mind their profitability, and extra profitable exploration drilling within the Russian Federation. In the medium time period, manufacturing enhancement at mature fields and energetic growth of recent promising oil and fuel initiatives, together with Vankor cluster, Erginsky cluster, Russkoe, Kharampur and North Komsomolskoye fields, Rospan, will enhance the Company’s manufacturing via natural development. (Source: Rosneft – Image: Rosneft rif in Russkoye subject/Andrey Rudatov)

The submit ROSNEFT HYDROCARBONS RESERVES UP 6% IN 2017 appeared first on Energy Global News.

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