Monday, May 15, 2006
Rosneft state oil co. says proven reserves are 18.9 bln barrels
MOSCOW, May 15 (RIA Novosti) - Rosneft said Monday its proven reserves as of December 31, 2005, were 18.9 billion barrels of oil equivalent, including 14.9 bln barrels of crude and 691 bln cubic meters of natural gas. International auditors DeGolyer and MacNaughton estimated the state oil company's likely and possible reserves at 10.9 billion and 9.8 billion barrels of oil equivalent, respectively. This includes 8.3 billion barrels of oil and 15.7 trillion cubic feet of natural gas. A statement on the Rosneft Web site ahead of the audit said the check would be carried out March 15. DeGolyer and MacNaughton also estimated the company's reserves given contingency on the success of geological exploration in a number of upcoming projects, including the Sakhalin shelf, the western Kamchatka shelf, the Vankor oil-and-gas fields, and fields in Krasnoyarsk Territory in central Siberia. Factoring in the probability of successful geological exploration, forecast resources were put at 7.7 bln barrels of oil equivalent, including 7.2 bln barrels of crude and 2.8 trillion cubic feet of natural gas. Rosneft said it hoped forecast resources would be eventually upgraded to proven, likely and probable reserves as a result of successful exploration and development of these projects.