01 June 2004 05:51
Gazprom hydrocarbon reserves estimated at $60.7 bln
MOSCOW. June 1 (Interfax) - The current value of reserves owned by Russian gas giant Gazprom is estimated at $60.7
billion, the company said in an information sheet at a briefing on development of the resource base, gas production, and
transport system development.
The independent international firm DeGolyer and McNaughton has audited 91% of the company's gas reserves, 92% of
condensate and 64% of oil reserves since 1997. The value of these reserves is estimated at $60.7 billion.
Gazprom spent 7.9 billion rubles on geological work in 2003 and plans to increase this spending to 12.7 billion
rubles in 2004.
Gazprom Deputy CEO Alexander Ananenkov said at the press briefing that in 2003 growth in Gazprom reserves amounted to
450 billion tonnes of fuel equivalent. He said that the company's current proven gas reserves amount to 26 trillion
cubic meters, and including affiliated companies Gazprom controls reserves of 28 trillion cubic meters of gas, 1.28
billion tonnes of condensate and 570 million tonnes of oil.
Ananenkov said that the reserves on the Gazprom balance sheet account for 60% of total gas reserves in Russia,
independent producers - including oil companies - account for 25% of gas reserves, and about 17% of reserves have not
yet been distributed -or about 8.5 trillion cubic meters of gas.
According to Ananenkov, in 2003 Gazprom owned 179 licenses, of which only 33 were for geological exploration work and
the rest were development licenses. At the start of 2004 Gazprom had about 159 licenses, including 39 for geological
exploration. [RU EUROPE ASIA EEU EMRG ENR ELG NGS CRU OIL] rd
[Interfax] |
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