Gazprom adds over 480 billion cubic meters to its gas reserves through geological exploration in 2020
- Gas reserve addition rates have been surpassing production rates for 16 consecutive years.
The Gazprom Board of Directors took note of the information about the ongoing work for resource base support, geological surveys, and geological exploration performed by the Company.
It was highlighted that Gazprom, which has the largest reserves and output of natural gas in the world, is effectively expanding its mineral and raw material base, primarily through geological exploration.
According to preliminary data, the year 2020 saw the Company perform 3D seismic surveys covering more than 5,000 square kilometers and drill over 57,000 meters of rock formations in Russia, including technically challenging wells with depths reaching 4,500 meters. This resulted in reserve additions exceeding 480 billion cubic meters, which is substantially higher than the production volume (452.6 billion cubic meters). Therefore, Gazprom’s reserve replacement ratio has been exceeding 1 for as many as 16 consecutive years.
The bulk of geological exploration carried out by the Company takes place near the Yamal Peninsula, in the east of Russia, and on the continental shelf.
Specifically, the Yamal gas production center expanded its resource base in 2020 thanks to the discovery of the 75 Years of Victory field (202.4 billion cubic meters of gas reserves) on the Yamal shelf of the Kara Sea. Moreover, new data obtained in the course of drilling an exploration well proved that the productivity of the Leningradskoye field is much higher than anticipated. The Company is also conducting follow-up exploration at Bovanenkovskoye and Kharasaveyskoye, which are the key fields of the Yamal center, and studying the Tambeyskoye field.
In order to improve the efficiency of geological surveys, the Company employs cutting-edge technologies, including digital ones, thereby obtaining better data and optimizing production processes. To that end, the Company is developing an integrated information environment for geological, geophysical and field data, which allows the specialists of Gazprom and its subsidiaries to monitor and analyze the ongoing surveying and development of fields across their entire lifecycles in a comprehensive manner.