- OAO «LUKOIL» - Oil and Gas Reserves

www.lukoil.com / Reserves and Production / Oil and Gas Reserves

	Company Information

	Reports

	Press Centre

	Investor Center

	Reserves and Production

	Oil Refining

	Social Policy

	Environment

	LUKOIL's Internet Projects

	Museum

	Contacts

Company MissionCompany MissionGeneral Information General Information Company History Company History ShareholdersShareholdersCorporate GovernanceCorporate GovernanceSubsidiariesSubsidiariesFSA DisclosureFSA DisclosureInsurance Strategy and PolicyInsurance Strategy and PolicyInquiry FormInquiry Form20082008200720072006200620052005200420042003200320022002200120012000 - 19912000 - 1991Board of Directors Board of Directors Committees of the Board of DirectorsCommittees of the Board of DirectorsManagement Committee Management Committee Stakes of BoD Members and Management Committee MembersStakes of BoD Members and Management Committee MembersRemuneration of Directors and Management Committee MembersRemuneration of Directors and Management Committee MembersDividendsDividendsInternal Documents of the CompanyInternal Documents of the CompanyFinancial ReportsFinancial ReportsLUKOIL Annual ReportsLUKOIL Annual ReportsLUKOIL Data BooksLUKOIL Data BooksLUKOIL Fact BookLUKOIL Fact BookPress ReleasesPress ReleasesSpeeches, articles, interviewsSpeeches, articles, interviewsVideoVideoPhotoPhotoSubscriptionSubscriptionPersonalitiesPersonalitiesExploration and productionExploration and productionOff-shore projectsOff-shore projectsRefiningRefiningLUKOIL-II Distribution and transfer terminalLUKOIL-II Distribution and transfer terminalPetroleum Product MarketingPetroleum Product MarketingLUKOIL in the USALUKOIL in the USAEventsEventsCommand and staff exercisesCommand and staff exercisesCentral office of OAO LUKOIL in MoscowCentral office of OAO LUKOIL in MoscowDiplomas, CertificatesDiplomas, CertificatesV. I. Graifer, Chairman of the Board of directors of LUKOILV. I. Graifer, Chairman of the Board of directors of LUKOILV. Alekperov, President of OAO LUKOIL V. Alekperov, President of OAO LUKOIL Oilmen of LUKOILOilmen of LUKOILConstruction of LSP-1 (ice-resistant stationary platform) for Yuri Korchagin field in the Caspian SeaConstruction of LSP-1 (ice-resistant stationary platform) for Yuri Korchagin field in the Caspian SeaOffshore platforme D6 in the Baltic Sea. Kratsovskoe fieldOffshore platforme D6 in the Baltic Sea. Kratsovskoe field Permnefteorgsintez Refinery Permnefteorgsintez RefineryVolgograd RefineryVolgograd Refinery Uhtaneftepererabotka Refinery Uhtaneftepererabotka Refinery Nijnegorodnefteorgsintez Refinery Nijnegorodnefteorgsintez RefineryMini refineries in KogalymMini refineries in KogalymPetrotel-LUKOIL (Romania)Petrotel-LUKOIL (Romania)LUKOIL Neftokhim Burgas (Bulgaria)LUKOIL Neftokhim Burgas (Bulgaria)Odessa Refinery (Ukraine)Odessa Refinery (Ukraine)Filling station commissioning in New-YorkFilling station commissioning in New-YorkChange of brand of a filling station in the USAChange of brand of a filling station in the USACommissioning of the Yuzhno Khulchuyu Field. June 20, 2008Commissioning of the Yuzhno Khulchuyu Field. June 20, 2008The first large-tonnage oil shipment through the FOIROT (Varandey Oil Export Terminal). June 9, 2008The first large-tonnage oil shipment through the FOIROT (Varandey Oil Export Terminal). June 9, 2008Commissioning of KHAUZAK gas field in Uzbekistan. November 29, 2007Commissioning of KHAUZAK gas field in Uzbekistan. November 29, 2007Mounting of mooring cargo handling system on the FOIROT (Varandey Oil Export Terminal)Mounting of mooring cargo handling system on the FOIROT (Varandey Oil Export Terminal)Loading of FOIROT onto sea-going barges (Varandey Oil Export Terminal)Loading of FOIROT onto sea-going barges (Varandey Oil Export Terminal)Construction of Varandey TerminalConstruction of Varandey TerminalCommissioning of a catalytic reforming installation at the Volgograd RefineryCommissioning of a catalytic reforming installation at the Volgograd RefineryNakhodkinskoye gaz field commissioningNakhodkinskoye gaz field commissioningInternational anti-terrorism exercises at Volgograd RefineryInternational anti-terrorism exercises at Volgograd RefineryInternational exercise at RPK-Vysotsk LUKOIL-IIInternational exercise at RPK-Vysotsk LUKOIL-IIFire-prevention trainings in Kaliningrad RegionFire-prevention trainings in Kaliningrad RegionExercises “Kaliningrad 2004”Exercises “Kaliningrad 2004”Annual General Shareholders MeetingAnnual General Shareholders MeetingPresentationsPresentationsInvestor Trips to Sites Investor Trips to Sites Financial CalendarFinancial CalendarFinancial and Operating InformationFinancial and Operating InformationLUKOIL Stock QuotesLUKOIL Stock QuotesShareholders EquityShareholders EquityAnalyst CoverageAnalyst CoveragePerm Perm Karachaganak Karachaganak West SiberiaWest SiberiaEgyptEgyptFinancial FundamentalsFinancial FundamentalsOperating HighlightsOperating HighlightsShareholdersShareholdersOil and Gas ReservesOil and Gas ReservesExplorationExplorationProductionProductionInternational Exploration and ProductionInternational Exploration and ProductionOil transportationOil transportationDomestic RefiningDomestic RefiningInternational RefiningInternational RefiningNatural Gas Processing Natural Gas Processing PetrochemicalsPetrochemicalsPersonnel Management PolicyPersonnel Management PolicySocial Code of OAO LUKOIL Social Code of OAO LUKOIL Social Report of OAO LUKOILSocial Report of OAO LUKOILCharity and Social ActivitiesCharity and Social ActivitiesSportsSportsCorporate retirement programCorporate retirement programCompany Policy Company Policy Caring for the Environment Caring for the Environment Еcological monitoringЕcological monitoringCertificationCertificationAssociated SitesAssociated SitesSubsidiaries' WebsitesSubsidiaries' WebsitesOnline Periodicals Online Periodicals Post cardsPost cardsSecuritiesSecuritiesPhotoPhoto

Search

Oil and Gas Reserves

Proved hydrocarbon reserves of LUKOIL Group as of January 1, 2008 by SPE* international classification were 20.369 billion boe, of which 15.715 billion barrels of oil and 27.921 trillion cubic feetof gas.

The ratio of proved hydrocarbon reserves to production is 25 years (22 years for oil and 48 years for gas).

Oil & Gas Reserves of LUKOIL Group

(1 January, 2008)

Reserves category	Oil, million barrels	Gas, billion cubic feet	Hydrocarbons, million boe
Proved reserves Including: Developed Undeveloped	15,715 10,059 5,656	27,921 8,055 19,866	20,369 11,402 8,967
Probable reserves	8,679	21,048	12,187
Possible reserves	4,446	11,134	6,301

* In 2007 Miller and Lents (USA) carried out its thirteenth annual technical and economic audit of oil & gas reserves of LUKOIL Group. Reserve measurement was in accordance with requirements of the Petroleum Resources Management System devised by the US Society of Petroleum Engineers (SPE-PRMS), as reviewed and approved by the World Petroleum Council (WPC), the American Association of Petroleum Geologists (AAPG), and the Society of Petroleum Evaluation Engineers (SPEE). Reserves were accounted both within the time limits of license agreements and beyond expiry of license agreements up to the end of profit oil. Company reserves in all categories include 100% of the reserves of subsidiaries and shares in reserves of affiliates.

PROVED OIL RESERVES OF LUKOIL GROUP

(million barrels)

Region	2004	2005	2006	2007
Total	15,972	16,114	15,927	15,715
Russia	15,485	15,500	15,319	15,220
Western Siberia	8,536	8,572	8,574	8,616
Urals	2,130	2,170	2,112	2,151
Volga	478	468	697	657
including Caspian	184	183	448	407
Timan-Pechora	3,892