Gazprom Neft has a significant resource base which it has grown year on year. This has been achieved through intensive geological exploration, efficient development of the Company’s existing fields as well as the acquisition of new assets.
Independent consultants DeGolyer and MacNaughton estimate the company’s total proved and probable (proved + probable — 2P) hydrocarbon reserves (including production through joint ventures)* at 2.72 billion tonnes of oil equivalent (btoe) as at 31 December 2016 (international SPE-PRMS standards): an increase of 0.8 percent, year-on-year. **
The company’s current proven reserves-to-production ratio (SPE-PRMS standards) is 18 years.
The replacement ratio of hydrocarbons produced in 2016 (86.2 million tonnes of oil equivalent) was 122 percent.
* All businesses, excluding reserves attributable to Serbia’s NIS.
** SPE-PRMS (Petroleum Resources Management System) is the most widely used hydrocarbon reserve evaluation system in the world, taking into account the economics of hydrocarbon extraction. Reserves are measured in three categories: proved, probable and possible (3P).
*** Data does not include reserves and production volume of NIS.