Rosneft’s reserves replacement ratio reached 124% in 2015

OJSC Rosneft said it achieved a 124% reserves replacement ratio in 2015, and has a reserve life of 19 years.

According to an audit by DeGolyer & MacNaughton, proved hydrocarbon reserves at yearend 2015 were 34.465 billion boe, an increase of 488 million boe. The audit was under the US Securities and Exchange Commission’s “life-of-field” classification (OGJ Online, Jan. 23, 2013).

Rosneft said reserves growth stemmed from implementation of development plans at operated fields despite “a significant decrease of average benchmark crude oil prices.”

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