international magazine
02 / 2018

Lukoil completes reserves estimate as of the end of 2017

Lukoil announced today the results of the oil and gas reserves assessment and independent audit as of December 31, 2017. According to the SEC (U.S. Securities and Exchange Commission) standards, the ñompany's proved hydrocarbon reserves totaled 16.0 bn bbls of oil equivalent, 75% of which were oil reserves. The ñompany's proved reserves life is 19 years. In 2017 Lukoil added 501 mn bbls of oil equivalent to its proved reserves in the result of geological exploration and related dis