Reserves and resources

In 2010, Rosneft confirmed its status as the world’s largest publicly traded oil company by oil and gas condensate reserves.

According to an audit by DeGolyer & MacNaughton, Rosneft’s proved reserves by PRMS classification as of December 31, 2010 were 18,110 mln barrels of oil and 791 bln cubic meters of gas. The proved hydrocarbon reserve replacement ratio in 2010 was 106%. As of the end of 2010, Rosneft had reserve life of 25 years, of which 21 years for oil and 67 years for gas.

Company reserves are located both in traditional oil & gas producing regions (southern part of European Russia, Western Siberia, Central Russia) and in promising new regions (Eastern Siberia, the Far East, Timan-Pechora). About 75% of the Company’s proved oil reserves are concentrated in Western Siberia, mainly in Khanty-Mansiysk Autonomous District, and about 11% are in Eastern Siberia. Western Siberia also contains about 84% of the Company’s proved gas reserves, which are concentrated mainly in the Yamal-Nenets Autonomous District. Most of Rosneft’s hydrocarbon reserves are conventional.

The Company also has large probable and possible reserves, which provide an excellent foundation for further growth of proved reserves. According to DeGolyer & MacNaughton, probable reserves of Rosneft by PRMS classification at the end of 2010 were 9,978 mln barrels of oil and 435 bln cubic meters of gas, while possible reserves were 8,256 mln barrels of oil and 379 bln cubic meters of gas.

Proved reserves of oil under SEC classification were 13,747 mln barrels and gas reserves were 247 bln cubic meters.

Rosneft’s hydrocarbon reserves and resources audited by DeGolyer & MacNaughton, as of December 31

SEC (life-of-field)