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In 2011 OAO NGK Slavneft incremented АВС1 reserves up to 675 mln tons

30.01.2012

In 2011, OAO NGK Slavneft incremented С1 recoverable reserves by 31 mln t. Over the reporting period, the Slavneft’s Subsidiaries produced 18.1 mln tons of oil. Thus, the hydrocarbon reserves recovery rate at Slavneft’s LAs made 171.2%.
In 2011, the Company’s exploration investments exceeded 3.1 bln rub. The С1 recoverable reserves increment due to exploration made 14 mln that is 22% above the indicator envisaged by the 2011 Company’s Business Plan. Herewith, the reserves increment due to exploration in KhMAO-YuGRA and the Krasnoyarsk region amounted to 6.4 mln tons and 7.5 mln tons, respectively.
The exploration drilling progress exceeded the 2011 Business Plan parameters by 2.2% and made 21.2 ths m.  In 2011, 7 exploration wells were drilled. 2D and 3D seismics made 397 km and 923 km2, respectively.
As of January 1, 2012, the total АВС1 residual recoverable reserves on the Company’s balance amounted to 675 mln tons. Under the past year results, the Company’s reserves-to-production ratio (the ratio of АВС1 recoverable reserves to the annual production) exceeded 37 years.

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