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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