“The Company continues to prioritize improvements to the quality of new reserves, active work to study low permeable reservoirs, and the implementation of a programme to enhance production efficiency in the traditional regions”.
Vadim Yakovlev First Deputy CEO of Gazprom Neft PJSC
The resource base of the Company’s current assets has deteriorated in terms of the remaining commercial reserves as most fields are in a late stage development. An increase in high-tech drilling and the use of tertiary methods for boosting oil recovery has enhanced the efficient development of these reserves. The Company’s reserves are audited according to PRMS-SPE standards and the more conservative SEC standards. Based on the report of DeGolyer and MacNaughton’s independent engineers, total proven and probable hydrocarbon reserves (including the Company’s stake in the reserves of affiliates accounted for using the equity method) amounted to 2.781 billion TOE (1.875 billion tonnes of oil, 1.128 trillion m3 of gas), excluding NIS, as of 31 December 2017.
In 2017, the Group obtained the right to develop the Tazovskoye field (recoverable reserves of 72 million tonnes of oil, 4.6 million tonnes of condensate, and 183.3 billion m3of gas) and the North Samburgskoye field (recoverable reserves of 90.5 million tonnes of oil) in the Yamalo-Nenets Autonomous District.
Licenses were also obtained for the Novosamarskoye field in the Orenburg Region, the Parabelsky exploration site in the Tomsk Region, the Ayashsky section on the shelf of the Sea of Okhotsk (where the new Neptune field was discovered with estimated geological reserves of roughly 255 million TOE), and the West Chistinny section in the Khanty-Mansi Autonomous District-Yugra.
The average size of the discoveries in 2016-2017 expanded to 26 million tonnes of production potential, which is several times higher compared with 2010-2015. These achievements are largely due to the introduction of new geological exploration approaches and technologies.
The Group also acquired a 25.02% stake in the company Evrotek-Yugra, which owns seven exploration and production licenses in the Khanty-Mansi Autonomous District-Yugra, from the Spanish company Repsol and has the right to increase this stake to 50%.
Exploratory drilling at the Group’s subsidiaries resulted in the discovery of 31 new hydrocarbon deposits and 4 new fields, namely: the Alexander Zhagrin field (Khanty-Mansi Autonomous District-Yugra), Novozarinskoye (Orenburg Region) as well as Kumane and Begeytsy-X in Serbia. Tomskneft discovered the Melimovskoye field (Tomsk Region).