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Sunday, 20 July, 2008, 02:40 GMT | more prices >>

Novatek replacement ratio hits 107%



By Upstream staff 

Russian gas producer Novatek said today it replaced 107% of its production volumes with new reserves last year.

The company added about 220 million barrels of oil equivalent of proved reserves under Security Exchange Commission standards and produced around 206 million boe during the year.

Total proved natural gas reserves increased from 651 billion cubic metres in 2006 to 653 Bcm in 2007.


Wednesday, 09 April, 2008, 08:43 GMT  | last updated: Wednesday, 09 April, 2008, 08:43 GMT

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