In 2016, our presence in Russia was focused on our Upstream business.
Net surface area
of mineral rights
barrels of oil
equivalent per day
Net proved reserves
million barrels of oil
equivalent per day
As of December 31st, 2016 we owned mineral rights to eight exploration blocks with a net surface area of 3,602 km2 and 19 production/development blocks with a net surface area of 642 km2.
In 2016, net production totaled 4.2 Mbbl of liquids and 13.9 bscf of natural gas, with an equivalent total net production of 6.7 Mboe (18,349 boe/d). At 2016 year-end, net reserves amounted to 39.1 Mboe.
Repsol has a joint venture in Russia (AR Oil and Gaz BV “AROG”) with the company Alliance (which merged with the company NNK in 2014), which makes it possible to combine the latter's knowledge of and access to exploration and production opportunities in the country with Repsol's technical and financial capacity, thereby creating a long-term exploration and production alliance. The agreement also includes the joint search for new growth opportunities through the acquisition of oil and gas assets in Russia. At 2013 year-end, AROG, the incorporation of the joint venture between Alliance Oil /NNK (51 %) and Repsol (49 %) was completed after the inclusion of the assets of the company Eurotek by Repsol, which includes two gas fields: Syskonsyninskoye (SK), which commenced production at the end of February 2013 and Yuzhno-Khadyryakhinskoye (YK), which is in the final evaluation phase.
- In April, the P-7 appraisal drilling was completed in the Karabashsky 2 exploration block, located in the West Siberian basin, where Repsol is the operator company through the company Eurotek-Yugra, which is wholly-owned by Repsol.
- In the second half of 2016, Repsol waived its rights to the Kumolsky exploration block, since it is a very remote area with very marginal estimated potential.
Information on net production, net proved reserves, and mineral rights as of December 31st, 2016