http://www.themoscowtimes.com/stories/2004/04/16/044.html

Yukos Reserves Jump to 13 Billion Barrels

Reuters Yukos discovered four times more oil than it produced in 2003, when its oil and gas reserves rose more than 16 percent, the company said Thursday.

Shares of the embattled company rose nearly 3 percent after the announcement, outperforming the declining broader market.

The news confirms Russia as one of the few places in the world where oil majors can still book huge reserves, while they have come under closer scrutiny elsewhere after Royal Dutch/Shell recently cut its reserves by 20 percent.

Yukos said in a statement that its oil and gas reserves, as well as those of its affiliates and subsidiaries, rose to 13 billion barrels of oil equivalent from 11.2 billion at the end of 2002, based on U.S. Securities and Exchange Commission rules. SEC rules are the strictest in the industry. Under the less strict regulations of the Society of Petroleum Engineers, Yukos' oil and gas reserves rose 6.6 percent to 16 billion barrels of oil equivalent from 15 billion as of the end of 2002.

Crude oil proved reserves' life was 25 years on the SPE and 20 years on the SEC basis as of Dec. 31, 2003.

"Yukos' oil and gas reserves continue to be a competitive advantage for the company and will enable it to remain the largest Russian oil producer," the statement quoted CEO Simon Kukes as saying. "Yukos' record-high capital expenditures level during 2004 is targeted not only at meeting our 90 million tons production target [1.8 million barrels per day], but also at maintaining a high level of reserves replacement."

Archrival LUKoil estimated reserves at 19.7 billion barrels of oil equivalent last year, but it was unclear whether it used the SEC or SPE definition.

ExxonMobil, the world's largest publicly traded company, has reserves of 22 billion barrels of oil equivalent, enough to maintain oil and gas output for 14 years. Last year, ExxonMobil's reserves repletion ratio stood at 105 percent.

BP estimates its reserves at 18.3 billion barrels, of which 55 percent is oil and 45 percent is gas.

A Yukos bizonyítottan felszínre hozható készletei 11.2 milliárd hordórol(a föld éves olajfogasztása 22 milliárd hordó) 13 milliárdra nöttek.Ha a kevésbé szigorú előírásokat nézzük,akkor 16 milliárd a yukost jelenlegi tartaléka,ami nagyjábol 20-25 évig elegendő olajat jelent.A világ legnagyobb piaci olajvállalata,az ExonMobil 22 milliárd hordó bizonyított készlettel rendelkezik(ez olaj egyenértéket jelent,ami a földgázt is magába foglalja),ami 14 évre elég.A felfedezési arány 105 % volt az utolsó évben.Az ExonMobil a legnagyobb olajvállalat,ami nem állami kézben van.