In 2012, Novatek’s hydrocarbon reserves under SEC increase almost by a third

On Thursday, Novatek published its reserves data as of end of 2012. The company’s proved hydrocarbon reserves under SEC exceeded 12 billion barrels of oil equivalent, they increased by 32% for a year; the increase of proved reserves made up 3.4 billion barrels of oil equivalent, and reserves replacement ratio reached almost 850%.

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