Rosneft and DeGolyer and MacNaughton Audit Company signed a series of cooperation agreements at the XXI St. Petersburg International Economic Forum.

According to the documents signed, DeGolyer and MacNaughton will conduct an independent audit and economic evaluation of reserves, contingent and prospective resources of hydrocarbons at Rosneft producing assets. Upon completion of these activities, in 2017 - 2019 standard annual reports will be issued.

An agreement was also signed under which DeGolyer and MacNaughton are to provide consultancy services to Rosneft, collect and process data and to carry out surveys to assess the potential for increasing the oil recovery rate at the Company’s assets. 

Notes for editors:

DeGolyer and MacNaughton is one of the largest independent global auditors of petroleum reserves. The company has accumulated unique experience in conducting independent reserves audits the results of which are used for project certification and submission to financial institutions worldwide. 

Since 1998, Rosneft has been cooperating with the independent auditor DeGolyer and MacNaughton for holding annual international audits of petroleum reserves and resources in line with the classifications of the US Securities and Exchange Commission (SEC) and of the Petroleum Resources Management System (PRMS).       

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