Tatneft: 2017 Reserves Audit Results
Based on the audit by an independent oil and gas consulting firm Miller & Lents, Ltd. net recoverable oil and gas reserves of Tatneft in accordance with the standards of the Petroleum Resources Management System prepared by the Oil and Gas Reserves Committee of the Society of Petroleum Engineers (SPE-PRMS) as of 31 December 2017, assuming full economic life of the fields, were:
Reserves Category Crude and Condensate Gas
(MBbls) (MMcf)
Proved Developed 3 419 727 788 738
Producing
Proved Developed 2 186 158 511 370
Nonproducing
Proved 566 117 130 482
Undeveloped
Total Proved 6 172 003 1 430 590
Probable 2 541 263 589 655
Possible 570 093 10 246
In addition to the audit of reserves, net contingent resources in the company’s fields were estimated at year-end 2017:
Resources Category Crude and Condensate Gas
(MBbls) (MMcf)
Low Estimate (1С) 795 398 189 902
Best Estimate (2С) 1 046 870 272 467
High Estimates (3С) 1 972 670 1 091 410
Contingent resources are defined by the SPE-PRMS as those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations by application of development projects not currently considered to be commercially recoverable due to one or more contingencies.
