LUKOIL Company announced that it has achieved total proved hydrocarbon reserves of 15.38 billion barrels of oil equivalent, 76% of which stood for liquids until the end of December 2020, a press release stated.

According to the statement, proven reserves of liquids is estimated at 11.7 million barrels (mmbbl), while proved reserves of gas is amounted to 22.156 billion cubic feet (bcf).

The company noted that it managed to add 464 mmbbl of oil equivalent to its proved reserves due to the geological exploration and production drilling conducted in 2020.

Additionally, LUKOIL added 258 mmbbl of oil equivalent to the proven reserve resulted from the optimization of development systems and well work programs at existing fields.