Independent International Audit of Reserves
Under the SEC (U.S. Securities and Exchange Commission) classification, Rosneft’s proved hydrocarbon reserves totalled 42,018 mmboe (5,678 mmtoe) as at 31 December 2019. Hydrocarbon reserves grew by 587 mmboe (81 mmtoe), or 1%, year-on-year. The audit to assess life-of-field reserves was performed by DeGolyer & MacNaughton.
In 2019, Rosneft’s SEC-proved reserve life amounted to more than 20 years. The SEC-proved reserve replacement ratio stood at 129%.
As at 31 December 2019, the Company’s reserves under the PRMS (Petroleum Resources Management System) standards, according to DeGolyer & MacNaughton, totalled 47,289 mmboe (6,400 mmtoe) of 1P reserves, 84,926 mmboe (11,504 mmtoe) of 2P reserves, and 125,296 mmboe (16,976 mmtoe) of 3P reserves. In 2019, total 3P reserves grew by more than 4 bboe (550 mmtoe).