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NOVATEK declares year-end 2015 reserves


Published Jan 27, 2016
NOVATEK-3

OAO NOVATEK declared that independent petroleum engineers, DeGolyer & MacNaughton, have completed their comprehensive reserve appraisal of the Company's hydrocarbon reserves as of 31 December 2015.

Total SEC proved reserves, including the Company's proportionate share in joint ventures, aggregated 12,817 million barrels of oil equivalent (boe), including 1,775 billion cubic meters (bcm) of natural gas and 143 million metric tons (mmt) of liquid hydrocarbons.

In 2015, NOVATEK increased the proved reserves by 1.4% and recorded a reserve replacement rate of 133%. On an organic basis (excluding the effect of lower share in the SeverEnergia joint venture) the reserve replacement rate amounted to 148%, which is equal to reserves addition of 774 million boe, inclusive of 2015 production.

Tags: OAO NOVATEK




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