Gas and oil reserves

Gazprom holds the world’s largest natural gas reserves. The Company’s share in the global and Russian reserves amounts to 17 and 72 per cent respectively. As of December 31, 2014, Gazprom Group’s A+B+C1 reserves reached 36 trillion cubic meters of gas and 3.3 billion tons of oil and condensate.

In order to replenish its resource base, Gazprom Group carries out geological exploration in Russia and abroad, as well as continuously monitors new projects and assets eligible for purchase.

Gazprom Group’s explored hydrocarbon reserves in Russian regions

Gazprom Group’s explored hydrocarbon reserves in Russian regions

Reserves of affiliates

In 2014, the A+B+C1 reserves of affiliates within the share of Gazprom Group stood at 998.4 billion cubic meters of gas and 877.8 million tons of liquid hydrocarbons.

As of January 1, 2014, Gazprom Group had stakes in the following affiliates holding subsurface use licenses: Northgas gas production company (51 per cent stake); Slavneft, Messoyakhaneftegaz, and Tomskneft VNK oil production companies (50 per cent); Salym Petroleum Development N.V. (50 per cent); Sakhalin Energy (50 per cent), Sakhalin II project operator; and SeverEnergia (45.1 per cent).

Reserves audit

The PRMS-based audit of Gazprom Group’s hydrocarbon reserves carried out by DeGolyer & MacNaughton showed that, as of late 2014, the Group’s proven and probable hydrocarbon reserves included 23.5 trillion cubic meters of gas and 2.1 billion tons of oil and condensate.

The audit covered 94 per cent of gas, 92 per cent of condensate, and 90 per cent of oil reserves in A+B+C1 categories.

Gazprom Group’s reserves under PRMS standards


As at 31 December 2014 As at 31 December 2015

Natural gas, bcm



Gas condensate, mm tonnes



Oil, mm tonnes



Total, billion t c.e.



billion boe



Geological exploration

The main objectives of geological exploration performed by Gazprom Group are to replenish produced hydrocarbons by commercial reserves and prepare the feedstock base in promising regions. The growth rates of the Company’s natural gas and liquid hydrocarbon reserves have been surpassing the production rates since 2005 and 2008 respectively.

In 2014, the reserves replacement ratio was 1.86 for gas, 11.03 for condensate, and 0.63 for oil.

Gazprom operates in almost all of Russia’s oil- and gas-bearing regions. In 2014, Gazprom Group allocated a total of RUB 83.7 billion for the geological exploration of domestic hydrocarbons.

2014 saw the discovery of the Vostochno-Imbinskoye gas field (Krasnoyarsk Territory) and 30 deposits. The richest deposit was identified in the Jurassic sediments of the Pestsovoye field.

Geological exploration of hydrocarbons by Gazprom Group in Russia


For the year ended December 31


2011 2012 2013 2014 2015

Exploratory drilling, thousand meters

157.7 126.4 146.4 165.4 104.9

Number of constructed exploratory wells

60 54 53 41 30

including producing wells

45 46 37 31 25

2D seismic survey, thousand linear kilometers

2.8 1.9 1.4 6.6 0.2

3D seismic survey, thousand square kilometers

8.8 8.4 13.3 12.6 18.1
Geological exploration of hydrocarbons by Gazprom Group in Russia

Geological exploration of hydrocarbons by Gazprom Group in Russia


As of December 31, 2014, the licensed area of Gazprom Group in Russia totaled 546.3 thousand square kilometers, including 331.7 thousand square kilometers on the shelf.

In 2014, Gazprom Group obtained 13 subsurface use licenses, of which 3 were issued under the Russian Government’s instructions: one for the Khandinsky block of federal importance that includes a part of the Kovyktinskoye field (Khandinskaya area) in the Irkutsk Region and one each for the Kheisovsky and Severo-Zapadny blocks of federal importance on the Barents Sea shelf. That same year, one subsurface use license – for the Urumaco 1 block in Venezuela – was revoked due to the inexpediency of exploration activities in the area.

Russian shelf development

Hydrocarbon development on the Russian continental shelf is one of Gazprom’s strategic activities. The Company has devised the Program for hydrocarbon resource development on the shelf of the Russian Federation until 2030. The Program provides for comprehensive and gradual hydrocarbon development in offshore areas, along with the application of state-of-the-art technical and technological solutions in each and every field of the Company’s activities based on the best global practices.

The initial total hydrocarbon resources of the Russian continental shelf are estimated at around 100 billion tons of fuel equivalent, of which some 80 per cent is gas. At the same time, the shelf remains poorly explored.

However, on December 20, 2013, Gazprom Group started production from the Prirazlomnoye field in the Pechora Sea, tapping the Arctic shelf resources for the first time in Russia’s history. As early as April 2014, the first 300 thousand tons of Arctic oil were supplied to the global market. An offshore ice-resistant stationary platform is sited at the field. It is the first such platform to be designed and built in Russia. The platform is fully adapted to harsh environmental and climatic conditions and can resist maximum ice loads.

Mikhail Ulyanov tanker arrives at Prirazlomnaya to load oil from platform

Mikhail Ulyanov tanker arrives at Prirazlomnaya to load oil from platform

Hydrocarbon development beyond Russia

Subject to the existing contract obligations, Gazprom Group continues to implement its ongoing projects in foreign countries, including Vietnam, India, LibyaAlgeria, and the countries of Central Asia, namely, UzbekistanKyrgyzstan, and Tajikistan. The amount of funds invested in geological exploration projects abroad totaled RUB 5.4 billion in 2014.

As of December 31, 2014, Gazprom Group’s portfolio of hydrocarbon exploration and production activities abroad consisted of 38 projects, with 17 projects operated by the Group’s subsidiaries.

Hydrocarbon exploration by Gazprom Group abroad
  As of December 31
  2011 2012 2013 2014 2015
Exploratory drilling, thousand meters 21.8 24.0 18.1 17.6 28.3
Number of constructed exploratory wells 6 7 4 5 4
including producing wells 6 1 1 4 2
2D seismic survey, thousand linear kilometers 1.3 0.7 0.4
3D seismic survey, thousand square kilometers 0.7 0.4 1.4 1.7 1.4

Gazprom Group is engaged in prospecting, exploration, and development activities in the CIS, Europe, Southeast Asia, Africa, Middle East, and Latin America.

The following projects are at the production stage: fields in blocks 05–2 and 05–3 located in the Vietnamese part of the South China Sea, the Wingate project on the North Sea shelf, the Shakhpakhty field in Uzbekistan, and the Junin-6 project in Venezuela, which is implemented in cooperation with Rosneft. Together with Wintershall, Gazprom produces oil and gas in Libya as part of the C96 and C97 oil concessions.

In the second half of 2014, Gazprom Group started producing hydrocarbons from the Badra field in Iraq. It is the first major upstream project outside Russia to be delivered by the Group from scratch. The unique experience gained in Iraq will be applied in the development of new fields, both in Russia and internationally.

Drilling rig at Badra field

Drilling rig at Badra field

Mineral resource base development program

The resource base development strategy of Gazprom Group aims to maintain the balance between reserves growth and hydrocarbon production, as well as to ensure expanded resource replenishment in the future.

In June 2011, the Gazprom Management Committee approved the Gas Industry Mineral Resource Base Development Program until 2035. The Program envisages the expanded replenishment of the mineral resource base with due consideration of the changes in the reserve structure and the shift of the gas production centers to the new regions: the Yamal Peninsula, Eastern Siberia, the Far East, and the Russian continental shelf. The Program will provide for the addition of about 20 billion tons of fuel equivalent between 2011 and 2035.

The document places great emphasis on research and development activities, which will help dramatically improve the efficiency of prospecting and exploration activities at new hydrocarbon fields and deposits.