Operating results

Independent International Audit of Reserves

Under the SEC (U.S. Securities and Exchange Commission) classification, Rosneft’s proved hydrocarbon reserves totalled 38,644 mmboe (5,678 mmtoe) as at 31 December 2020. (5,221 mmtoe)With acquisitions/divestments, including fuel gas.. The audit to assess life-of-field reserves was performed by DeGolyer & MacNaughton.

In 2020, Rosneft’s SEC-proved reserve life amounted to more than 20 years. The SEC-proved organic reserve replacement ratio stood at 151%, while the replacement ratio for existing assets was 138%Calculated in metric units across the relevant assets (including divestments)..

As at 31 December 2020, the Company’s reserves under the PRMS (Petroleum Resources Management System) standards, according to DeGolyer & MacNaughton, totalled 43,484 mmboe (5,884 mmtoe) in the 1P category, 83,761 mmboe (11,308 mmtoe) in the 2P category, and 126,216 mmboe (17,028 mmtoe) in the 3P category.

2020 saw an increase of over 700 mmtoe in Rosneft’s PRMS 3P reserves at existing assets (before acquisitions/divestments) as a result of successful exploration and production drilling and the use of advanced recovery enhancement techniques to extract hard-to-recover reserves, among others. The highest increase in reserves was registered at the fields of RN-Yuganskneftegaz, RN-Nyaganneftegaz, Rospan International, Verkhnechonskneftegaz, and RN-Purneftegaz. The reserves at Vostok Oil assets, including Tagulskoye and Zapadno-Erginskoye fields, also went up significantly.

Oil and Gas Condensate Reserve Replacement Ratio, SEC
Breakdown of Proved Liquid Hydrocarbon Reserves, mmt
Breakdown of Proved Reserves of Marketable Gas, bcm