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Bashneft oil reserves jump 51 percent

MOSCOW : Russian mid-sized oil company Bashneft, owned by holding company Sistema, said on Wednesday its proven reserves
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By Muhammad Iqbal
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MOSCOW: Russian mid-sized oil company Bashneft, owned by holding company Sistema, said on Wednesday its proven reserves jumped 51 percent to 1.91 billion barrels in 2010.

The company said the audit was conducted by Miller and Lents under Petroleum Resources Management System criteria.

The company's proven oil reserves will last 19 years, Bashneft said in a statement.

                              

Copyright Reuters, 2011

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