TNK-BP replaces 137% of production with new reserves

TNK-BP replaces 137% of production with new reserves


Growth in reserves of liquid hydrocarbons at Russian-British TNK-BP in 2005 was 37 percent higher than production, the company said in a press release. The press release said that the independent firm of DeGolyer and MacNaughton conducted an audit to criteria stipulated by both the United States’ Securities and Exchange Commission (SEC) and the Society of Petroleum Engineers (SPE). The audit confirms that as at December 31, 2005, TNK-BP’s total proved reserves were 8.230 billion barrels (liquids...


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