Gazprom raises proven reserves of gas by 796.6 bcm in 2018

MOSCOW, Apr 22 (PRIME) -- Russian gas giant Gazprom has raised its proven natural gas reserves by 796.6 billion cubic meters and proven reserves of liquid hydrocarbons by 21.8 million tonnes in 2018, the company said in a corporate magazine released on Monday.

The reserve replenishment ratio amounted to 1.6x last year, the company said.

Gazprom Deputy CEO Vitaly Markelov said in an interview to the magazine that the company expects its gas production to fall to 495 billion cubic meters this year from 497.6 billion cubic meters last year, while condensate output may contract to 15.7 million tonnes from 15.9 million tonnes. Oil output may rise to 41.8 million tonnes from 40.9 million tonnes.

“Gazprom can raise gas production in case of necessity or a rapid increase in demand, but not more than by 20% of projected indicators of the fields,” he said as quoted by the magazine.

He said that Gazprom may launch production of the Tambeiskoye field gradually starting from 2026. Gazprom and Rusgazdobycha are evaluating prospects of their joint development of the field, and will define conditions for the project after studying the results.

Reserves of the Tambei group of fields stand at 7.7 trillion cubic meters of gas.

The gas giant may also launch production at the Parusovoye field in 2025 and at the Severo-Parusovoye field later to maintain the production plateau of the Parusovoye field, he said.

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