The estimate of the total proved (1P) recoverable oil reserves within its Exillon WS license area has increased 30% from 40 million barrels to 52 million barrels.
The estimate of the total proved plus probable (2P) recoverable oil reserves within Exillon WS has increased 73% from 80 million barrels to 139 million barrels, and the estimate of the total proved plus probable plus possible (3P) recoverable oil reserves within Exillon WS has increased 3% from 294 million barrels to 302 million barrels.
This increase in reserves is attributable to the four development wells drilled and two appraisal wells retested in Western Siberia since May 2010, and improvement in recovery factors due to the start of year round production and optimization of oil field development program.
At the Exillon TP license area, the increase is attributable to the acquisition of a new license, increased ‘original oil in place’ estimates for fields with long production history, and improvement in recovery factors for some fields due to optimization of the field development program.
Overall, the group’s 1P reserves increased by 32 million barrels to 112.0 million barrels, 2P reserves increased by 101 million barrels to 239 million barrels and its 3P reserves increased 48 million barrels to 439 million barrels.
