Novatek replenishes reserves in 2021
Russia's Novatek reported on January 18 it had modestly increased its proven oil and gas reserves during last year, although there was a slight decline in its proven and probable reserves.
An assessment by DeGolyer & MacNaughton shows that the company had 2.261bn m3 of gas and 189mn metric tons of liquids in proven reserves at the end of 2021. Combined this is 16.41mn barrels of oil equivalent, up from 16.37mn boe a year earlier.
However, proven and probable reserves dipped slightly to 28.97mn boe, from 29.32mn boe at the end of 2020.
Novatek has enough proven reserves to maintain its current production for 26 years, and enough proven and probable reserves to last 46 years.