Novatek, the operator of Yamal LNG project informed that its proved oil and gas reserves increased 1.4 percent in 2015.
Total SEC proved reserves, including the company’s proportionate share in joint ventures, aggregated 12,817 million barrels of oil equivalent (boe), including 1,775 billion cubic meters (bcm) of natural gas and 143 million metric tons (mmt) of liquid hydrocarbons, Novatek said in a statement on Tuesday.
The reserve replacement rate amounted to 148 percent, which is equal to reserves addition of 774 million boe, inclusive of 2015 production.
At year-end 2015, the company’s reserve to production ratio was 25 years.
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LNG World News Staff