Lukoil’s Proved Reserves Exceed 20 Billion boe

LUKOIL has completed an evaluation and independent audit of its oil and gas reserves as at January 1, 2005. In terms of proved oil and gas reserves the Company continues to hold leading positions in the world: it is ranked first among Russian oil companies and second among international oil and gas majors.

According to the data audited by Miller and Lents (USA), LUKOIL’s proved reserves as at January 1, 2005 are estimated at 20.07 billion barrels of oil equivalent (boe), including 15.97 billion barrels of oil and 24.60 trillion cubic feet of gas.
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