Russia To Switch To International Oil, Gas Reserves Standards By 2012
November 17 2010 - 10:58AM
Dow Jones News
Russia plans to harmonize its oil and gas reserves
classification with international standards by 2012, the Resources
Ministry said Wednesday.
"From 2012, Russia should introduce a new classification of
hydrocarbon reserves in harmony with international SPE [Society of
Petroleum Engineers] PRMS standards," said Grigori Vygon, head of
the ministry's economy and finance department.
He said gas reserves of Russia's state-run OAO Gazprom (GAZP.RS)
under Russian standards are 25% higher than those under
international standards.
Russia had originally planned to introduce the new standards in
2009, but then postponed the introduction.
-By Jacob Gronholt-Pedersen, Dow Jones Newswires; +7 495 232
9197; jacob.pedersen@dowjones.com
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