Bashneft proved reserves increased by 7.0% in 2015

UFA, 16 February 2016. /Bashinform News Agency, Olesya Seregina/. JSOC Bashneft increased proved reserves by 7.0% to 2,323.6 million barrels, the company informs referring to the audit according to the PRMS international classification (Petroleum Resources Management System). 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, including the R. Trebs and A. Titov fields and the Sorovskoye field.

The reserve replacement ratio totaled 202.0% in 2015. Bashneft’s reserves-to-production ratio amounts to 16.3 years.

“Successful development of greenfield projects in Timan-Pechora and Western Siberia has enabled us not only to boost proved reserves considerably but also to achieve a significant increase in probable and possible reserves.’’ commented Mikhail Stavskiy, Bashneft’s First Vice President for Upstream.

In 2015 Bashneft increased oil reserves at the R. Trebs and A. Titov fields by 129.0% to 240.2 million barrels.

Proved oil reserves at the Sorovskoye field increased by 38.6% to 53.1 million barrels, while probable reserves grew by 45.5% (to 88.3 million barrels) and possible reserves by 44.3% (to 189.2 million barrels).

Possible reserves at the four gas condensate fields of the Saratovsko-Berkutovskoye group in the territory of our republic amounted to 24.6 billion cubic metres of gas and 7.9 million barrels of condensate.