Russia's Tatneft says to replace production in 07

MOSCOW, Dec 25 (Reuters) - Russian mid-sized oil firm Tatneft (TATN3.MM) expects this year's growth in its reserves to exceed production, the company said on Tuesday.

"The growth in our reserves in 2007 is expected to reach 34 million tonnes," Russia's sixth-largest oil producer said in a statement. Through the first eleven months of the year, Tatneft produced 23.6 million tonnes of oil and gas condensate.

As of Nov 1, Tatneft had 79 licenses for hydrocarbon exploration, three of which it received this year.

Resources Minister Yuri Trutnev said on Monday the growth in Russian oil reserves in 2007 will total 500 million tonnes, and will also be up on the country's production for the year.

Last month it said it had allocated 12 fields with heavy bitumen reserves, which it would work jointly with oil major Royal Dutch Shell (RDSa.L), under a deal signed in September.

The structure of the venture, the planned investments and costs would be announced in the first or second quarter of 2008.

Tatneft is controlled by the government of the Tatarstan republic, located in Russia's Volga region. (Reporting by Vladimir Soldatkin, writing by Amie Ferris-Rotman; Editing by Rory Channing)