Bashneft is provided with proven oil reserves for 18 years

Elvira Latypova

The oil reserves of JSOC Bashneft amount to 3192,5 mln. barrels as of the end of 2012 – by 6.9 % more than the last year. Including 2006,8 mln. barrels – proven reserves, 528.3 mln. barrels - probable reserves, 657.4 mln. barrels - possible reserves. These are results of an independent oil audit held by Miller and Lents, Ltd. under PRMS (Permanent Resources Management System).

The proven reserves replacement rate in 2012 amounted to 123.4%. Bashneft has a reserves-to-production ratio of 18.3 years.

Among the key drivers of reserves growth is the new Afanasyev field in the Republic of Bashkortostan.

Besides, Miller and Lents, Ltd. also estimated technically recoverable resources (conditional and prospective) at the area including Trebs and Titov oil fields in the Nenets Autonomous Region. The auditor broke down 743 mln. barrels of conditional 3C reserves (maximum value) and 60 mln. barrels of prospective reserves at the mentioned deposits into the hydrocarbons subclass of economic significance stage of «Pending development» project, it is said in Bashneft’s press release.

#bashneft #oil reserves

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