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Oil & Gas


Reserves and resources

In 2018, the Company developed in accordance with its strategic goals and maintained its leading position in terms of proved hydrocarbon reserves among the world's public oil companies. As of December 31, 2018, Terneftegaz Jsc's proved hydrocarbon reserves under the SEC classification amounted to 41,431 million barrels of oil equivalent (5,597 million toe)*. Hydrocarbon reserves increased by 1,524 mln boe compared to the end of 2017 (202 million toe) or 4%. The audit was conducted which provides for the assessment of reserves by the end of the period of profitable field development.