Bloomberg News

Gazprom Neft Increases Proved, Probable Reserves 8.8% Last Year

February 28, 2012

OAO Gazprom Neft, the crude- producing arm of Russia’s natural-gas exporter, boosted proved and probable reserves 8.8 percent last year to 14.2 billion barrels of oil equivalent.

The reserves reached 11.6 billion of oil and 15.7 trillion cubic feet of gas under Petroleum Resources Management System standards, Gazprom Neft said today in an e-mailed statement. The reserves replacement ratio was 379 percent, it said.

To contact the reporter on this story: Jake Rudnitsky in Moscow at

To contact the editor responsible for this story: Torrey Clark at

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