Russia's biggest oil producer OAO Rosneft (ROSN.RS) said Monday it replaced more than one and a half times the amount of hydrocarbons it produced in 2009, posting a reserve replacement rate of 163%.
Rosneft's total proved reserves grew 2.5% to 22.86 billion barrels of oil equivalent as of Dec. 31, which include 18.06 billion barrels of oil and 816 billion cubic meters of gas under the PRMS, or Petroleum Resources Management System--earlier known as SPE.
DeGolyer & MacNaughton estimated Rosneft's probable and possible reserves at 14.01 billion barrels of oil equivalently and 11.07 billion barrels of oil equivalent, respectively.
State-controlled Rosneft said reserves under the U.S. Securities and Exchange Commission methodology--an alternative method to classify reserves-totaled 15.15 billion barrels of oil equivalent, including 13.93 billion barrels of oil and 207 billion cubic meters of gas.