February 13, 2017 / 12:37 PM / 5 months ago

BRIEF-Russia's Lukoil says added 0.7 bln brls barrels of oil equivalent to proved reserves in 2016

1 Min Read

Feb 13 (Reuters) - Russia's No.2 oil producer Lukoil said on Monday:

* It added 0.7 billion barrels of oil equivalent to proved reserves in 2016;

* Lukoil's reserve replacement ratio reached 81 percent for proved hydrocarbon reserves, including 85 percent for crude oil;

* As of Dec. 31, 2016, company's proved hydrocarbon reserves under SEC (U.S. Securities and Exchange Commission) standards totaled 16.4 billion barrels of oil equivalent, of which 76 percent was crude oil;

* Lukoil's proved hydrocarbon reserves life is 20 years based on 2016 production volume. Source text: Further company coverage: (Reporting By Moscow Newsroom)

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