Bashneft increased hydrocarbon proved reserves by 4.9% in 2014

Elvira Latypova

UFA, 11 February 2015. /Bashinform News Agency, Elvira Latypova/. During the 2014 Bashneft proved reserves increased by 4.9 percent - to 2 145,6 million barrels, the company said, citing the results of the audit by the international classification PRMS. The auditor has evaluated reserves at 190 oil and gas condensate fields of the Company in the Volga-Urals, West Siberian and Timan-Pechora oil and gas provinces.

In 2014 the reserve replacement ratio totalled 179.0%. Bashneft's reserves-to-production ratio amounts to 16.9 years.

According to Mikhail Stavskiy, Bashneft's First Vice President for Upstream and Geology the main growth of proved reserves was driven primarily by brownfields in Bashkortostan (accounting for about 55% of the increase).

In 2014, Bashneft almost fivefold increased its reserves at R.Trebs and Titov fields reaching 104.9 million barrels. The company's share amounted to 78.5 million barrels (Bashneft owns 74.9 percent stake in "Bashneft-Polus").

Possible reserves of four gas-condensate fields of the Saratovsko-Berkutovskoye group in the Republic of Bashkortostan are estimated in the amount of 24.8 billion cubic metres of gas and 7.9 million barrels of condensate.

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