Download the New Reserves Classification Guide

http://www.spe.org/

Download the New Reserves Classification Guide

2 November 2011 in Americas,Asia-Pacific,Canada,Europe and Sub-Saharan Africa,Europe, Russia and West Africa,Latin America and Caribbean,Middle East, North Africa and India,Regions,Russia and Caspian,SPE News,Technical,United States

Russian Oil Companies to Use New Reserve Classification From 2009 – Trutnev

http://www.redorbit.com/

Russian Oil Companies to Use New Reserve Classification From 2009 – Trutnev
July 11, 2008

ARKHANGELSK. July 11 (Interfax) – Russian oil companies will move to a new oil reserve classification beginning in 2009, Natural Resources Minister Yury Trutnev said.

Russian Classification of Reserves

From http://www.novatek.ru/eng/news_center/clas/

Russian Classification of Reserves

The estimation of reserves of natural gas, gas condensate and crude oil can be broken down into two components: (i) geological reserves, or the quantities of natural gas, gas condensate and crude oil contained in the subsoil and (ii) extractable reserves, or the portion of geological reserves whose extraction from the subsoil as of the date the reserves are calculated is economically efficient given market conditions and rational use of modern extraction equipment and technologies and taking into account compliance with the requirements of subsoil and environmental protection.