TNK-BP reserves advance

According to the standards of the US Securities and Exchange Commission, the total proved reserves of TNK-BP grew from 4.1bn barrels of oil equivalent to 4.3bn barrels of oil equivalent in 2003, the company reported. The proved developed reserves advanced from 3.2bn to 3.4bn barrels. According to the standards of the Society of Petroleum Engineers, the total proved reserves dropped from 9.4bn barrels to 9bn barrels of oil equivalent and the proved developed reserves decreased from 6.1bn barrels to 6bn barrels.

In 2003, the company increased its production by 13.8 percent to 63.8m tons (1.276m barrels of oil per day on average).

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Author`s name: Editorial Team