Gazprom keeping its gas reserve addition rates above production rates for 17 consecutive years

The Gazprom Board of Directors took note of the information about the ongoing work on resource base support, geological surveys of subsoil, and geological exploration.

It was highlighted that effective replenishment of the mineral and raw material base is a key strategic objective for Gazprom. Every year, the Company successfully fulfills this objective, primarily through large-scale geological exploration operations.

In 2021, Gazprom continued its comprehensive efforts for hydrocarbon prospecting, appraisal and exploration in the Russian Federation. The Company performed 3D seismic surveys covering 6,700 square kilometers, drilled 64,700 meters of rock, and built 20 deep wells (two on the shelf of the Kara Sea).

As a result, Gazprom's gas reserves grew by 523 billion cubic meters, which is higher than the Company's gas production volume (514.8 billion cubic meters in 2021). Therefore, Gazprom's reserve replacement ratio has been exceeding 1 for as many as 17 consecutive years.

The bulk of gas reserve additions in 2021 was achieved through geological exploration in the resource base of the Yamal gas production center, which is key to the development of the domestic gas sector in the 21st century. Namely, the additions were obtained from the Leningradskoye field on the Yamal shelf of the Kara Sea and the Tambeyskoye field in the Yamal Peninsula.

The Company carries on with the construction of exploration wells at Bovanenkovskoye and Kharasaveyskoye, which are the anchor fields of the Yamal center, as well as at Chayandinskoye and Kovyktinskoye, the anchor fields of the Yakutia and Irkutsk gas production centers. In addition, geological surveys are underway in the deep-lying Achimov and Jurassic formations within the conventional fields of the Nadym-Pur-Taz region.