Tatneft’s proved oil reserves life at current production rates is over 30 years
Reserves Category Crude and Condensate Gas
(MBbls) (MMcf)
Proved Developed 3 510 967 915 713
Producing
Proved Developed 2 224 638 582 855
Nonproducing
Proved 478 131 125 270
Undeveloped
Total Proved 6 213 736 1 623 839
Probable 2 518 154 659 220
Possible 394 476 13 982
In 2016 Tatneft Group produced 28.7 million tones or 204.3 million barrels of crude oil, which is equivalent to approximately 558 thousand barrels per day. Therefore, Tatneft’s proved oil reserves life at current production rates is over 30 years, and 43 years taking into account the probable reserves (2P).
In addition to the audit of reserves, net contingent resources in the company’s fields were estimated at year-end 2016:
Resources Category Crude and Condensate Gas
(MBbls) (MMcf)
Low Estimate (1С) 686 067 182 699
Best Estimate (2С) 884 643 258 163
High Estimates (3С) 2 011 602 1 102 521
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