Russia To Switch To Intl Oil, Gas Reserves Standards By 2012

Russia To Switch To Intl Oil, Gas Reserves Standards By 2012
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Τετ, 17 Νοεμβρίου 2010 - 18:56
Russia plans to harmonize its oil and gas reserves classification with international standards by 2012, the Resources Ministry said Wednesday.
Russia plans to harmonize its oil and gas reserves classification with international standards by 2012, the Resources Ministry said Wednesday.

"From 2012,
Russia should introduce a new classification of hydrocarbon reserves in harmony with international SPE [Society of Petroleum Engineers] PRMS standards," said Grigori Vygon, head of the ministry's economy and finance department.

He said gas reserves of
Russia 's state-run OAO Gazprom (GAZP.RS) under Russian standards are 25% higher than those under international standards.

Russia had originally planned to introduce the new standards in 2009, but then postponed the introduction.

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