Rosneft Posts 2011 Reserve Replacement Ratio At 162%

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The FINANCIAL — Russia's biggest oil producer OAO Rosneft said Monday it added more hydrocarbons to its reserves than it produced in 2010, posting a reserve replacement rate of 162%, according to Borsa Italiana – London Stock Exchange Group.

 

Rosneft's proven reserves totaled 17.62 billion barrels of oil equivalent as of Dec. 31, which include 14.29 billion barrels of oil and 566 billion cubic meters of gas, in accordance with the U.S. Securities and Exchange Commission standards, or SEC.

Under the Petroleum Resources Management System, or PRMS, standards, Rosneft's proven reserves totaled 23.35 billion barrels of oil equivalent, which include 18.35 billion barrels of oil and 850 billion cubic meters of gas.

 

 

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