The companyreported total proven reserves at year-end of 12.5 billion barrels of oil equivalent- an increase of 1.2% on the previous year - of which gas accounted for 1740billion cubic metres and 1.2 billion barrels was liquids, based on USSecurities & Exchange Commission methodology.
Itestimated the lifetime of its current reserves at 29 years based on presentproduction rates.
Novatek boostedliquids reserves – mainly gas condensate – by 26% over the year, mainly due tosuccessful exploration at its SeverEnergia gas producing joint venture in WestSiberia that delivered 90 million barrels of additional proven volumes.
The
