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PROVED RESERVES OF GAS OF PJSC “RUSSNEFT” ROSE 1% UP TO 918 BCF IN 2016

05.04.2017 RNS

PJSC “RussNeft” increased the proved reserves of gas by 1% up to 918 bcf in 2016, according to the company’s statement. Such reserves were 909.6 bcf as of the end of 2015.

However, the oil reserves (excluding the Azerbaijan assets) reduced 0.5% down to 1.08 Bbbl.

The cumulative oil and gas reserves amounted to 1.233 Bbbl of oil equivalent as of the year end which is 0.3% less against 2015.

Herewith, in 2016, the probable reserves of gas of PJSC “RussNeft” rose 13.8% up to 371.1 bcf, the oil reserves grew 1.4% up to 465.9 Bbbl, and the cumulative reserves increased 2.7% up to 527.75 million barrels of oil equivalent.

According to the Central Control Administration of the Fuel and Energy Complex, in 2016, PJSC “RussNeft” increased the gas production 22.3% up to 2.395 bcm becoming the leader on the production growth rate.

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RussNeft supported the "Science Volunteers" educational intensive for schoolchildren in Saratov.

The educational intensive "Science Volunteers: Unmanned Aircraft Systems in the Modern World" was held at the Rovesnik Children's Health Center in Saratov. PJSC “RussNeft” acted as a partner for the event, according to the company's press service.

RussNeft reported on developing cooperation with educational institutions in the Ulyanovsk region.

The company's Ulyanovsk branch shared its experience in organizing systematic work with students from universities and colleges in the region. During regular meetings, students are introduced to the company's structure, employment conditions, and existing support measures for young professionals. Issues related to organizing industrial internships and opportunities for on-the-job training are discussed. Details are provided in a company press release.