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Reserves

NOVATEK ranks amongst the top 3 companies globally in terms of proven natural gas reserves.

As of 31 December 2021 total SEC proved reserves, including the Company’s proportionate share in joint ventures, aggregated 16,409 million barrels of oil equivalent (boe), including 2,261 billion cubic meters (bcm) of natural gas and 189 million metric tons (mmt) of liquid hydrocarbons. Total proved reserves increased by 0.3% (excluding 2021 production) as compared to 2020, representing a reserve replacement rate of 107% for the year, with the addition of 669 million boe, inclusive of 2021 production. The gas reserves replacement rate amounted to 120%, with the addition of 96 bcm, inclusive of 2021 production.

In 2021, NOVATEK increased its total hydrocarbons production by 2.9%. The Company continued its systemic efforts to commence production at new fields, boosting the share of developed reserves and laying a particular focus on resource base monetization.

NOVATEK carries on with its active exploration on Gydan and Yamal Peninsulas as well as within the reach of the Unified Gas Supply System, which will contribute to future growth of proved reserves under the international standards.

The Company’s reserves were positively impacted by successful exploration at the Geofizicheskoye, Gydanskoye, South-Tambeyskoye and the Urengoyskoye (Samburgskiy license area) fields, production drilling at the Utrenneye, South-Tambeyskoye, Urengoyskoye (Samburgskiy and Yevo-Yakhinskiy license areas) and the North-Russkoye fields, as well as increasing the recovery rate at the Yurkharovskoye field.

Under the PRMS reserves reporting methodology, NOVATEK's total proved plus probable reserves, including the Company’s proportionate share in joint ventures, aggregated 28,970 million boe, including 3,948 bcm of natural gas and 363 mmt of liquid hydrocarbons.

 
Natural gas reserves, bcm
  Proved Proved plus
Probable
  SEC PRMS
2021 2,261 3,948
2020 2,244 3,981
2019 2,234 3,901
2018 2,177 4,021
2017 2,098 3,879
2016 1,848 3,218
2015 1,775 3,152
2014 1,751 3,131
2013 1,740 3,125
2012 1,758 3,106
2011 1,321 2,108
2010 1,144 1,840
Liquids reserves, mmt
  Proved Proved plus
Probable
  SEC PRMS
2021 189 363
2020 197 380
2019 193 373
2018 181 387
2017 164 366
2016 154 322
2015 143 298
2014 140 310
2013 134 314
2012 106 247
2011 91 199
2010 73 93
Total reserves, mmboe
  Proved Proved plus
Probable
  SEC PRMS
2021 16,409 28,970
2020 16,366 29,318
2019 16,265 28,725
2018 15,789 29,619
2017 15,120 28,471
2016 13,402 23,769
2015 12,817 23,117
2014 12,643 23,069
2013 12,537 23,085
2012 12,394 22,355
2011 9,393 15,409
2010 8,088 13,386
Natural gas reserves (SEC), bcm
Liquids reserves (SEC), mmt
Total reserves, mmboe