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Tuesday, April 14, 2009

Russia Gazprom estimates reserves up 11 pct in 2008

April 14, 2009 (Reuters by Dmitry Sergeyev) - MOSCOW, Russia gas export monopoly Gazprom (GAZP.MM) estimates its end-2008 reserves at 217.3 billion barrels of oil equivalent, the company said in a memo to its Eurobond issue, a copy of which was seen by Reuters on Tuesday. That is broadly in line with analyst estimates, and represents an increase of 11 percent from 2007, when Gazprom's reserves were 196.4 billion. "We estimate, that we had Russian reserves classification ABC reserves of 33.1 trillion cubic metres of natural gas, 1,286.8 million tons of gas condensate and 1,598.4 million tons of crude oil," the document said.

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