Reserve

reser

The Company’s proven hydrocarbon reserves to SPE (PRMS) standards amount to 500 Million tonnes of oil equivalent (toe), making “NK "NEFTELENSK" among the largest oil companies in the world.

Oil bearing capacity at the fields within Volga region is related to terrigeneous and carbonate rocks of middle and lower carbon and Devonian; in West-Siberian region it is related to upper Jurassic and Neokomian deposits.

Discovery of new oil deposits are linked to the increased in amount of 2D/3D seismic and its detailed performance as well as in terms of exploration drilling at previously discovered deposits and at the new licenses.

Increment of АВС1+С2 reserves exceeded production by 19% in 2013.

New oil deposit was opened in UJ1 group formations at West-Variogan field; the oil deposits borders were extended for formations of UB8 group at Roslavlskoye field, UB10-2 group at West-Variogan field, MA10-1 and MA12 groups at Verkhne-Shapshinskoye field and Achimov complex at Tagrinskoye field.

3D seismic data from Padar block in Azerbaijan were interpreted within participation of “NK “Neftelensk” in international projects.

In order to ensure annual replenishment of the Company’s resource base, “NK “Neftelensk” intends to introduce, in mid-term, an exploration policy based on the following:

  1. Prospecting and exploration of new deposits of hydrocarbons in deep oil-promising horizons due to deepening of producing wells.
  1. Enhancement of prospecting and exploration drilling due to a better quality of 2D and 3D seismic works allowing detailed mapping of hydrocarbon traps with complex structures including in deep formations.
  1. Acquisition of new potential prospects based on geological and techno-economical evaluations.
  1. Expansion of the borders of the existing deposits.

RESERVES IN AMOUNT:

Proven – 1,096.995 mbbl;

Probable – 403.231 mbbl;

Possible – 597.815 mbbl.

Gas:

Proven – 1 075,445 mcf;

Probable – 209,041 mcf;

Possible – 208,198 mcf.

Estimates of the oil and gas reserves are compliant with the new requirements of SPE/WPC/AAPG/SPEE valid from 28.03.2007.