Wednesday, 11 November 2015 17:57
MOSCOW: Gazprom Neft, the oil arm of state gas producer Gazprom, said on Wednesday it expected its hydrocarbon reserves to rise to 2.7 billion tonnes of oil equivalent by Jan. 1, 2016, from 2.6 billion tonnes a year earlier.
The reserve replacement ratio was seen at least 105 percent in 2015, excluding any mergers and acquisitions and an increase in the company’s share in joint ventures, Alexei Vashkevich, Head of Geological Exploration and Resource Base Development at Gazprom Neft, told reporters.
The company expects to produce 79 million tonnes of oil equivalent this year, up from 66.3 million tonnes last year.
Production was also seen rising to 87 million tonnes next year, 94 million tonnes in 2017 and 100 million tonnes in 2018, a company presentation showed.
