Lukoil’s proven reserves as of December 31, 2012 stood at 17.3 billion barrels of oil equivalent, including 13.4 billion barrels of oil and 23.5 trillion cubic feet of gas. Lukoil is Russia’s largest private oil company.

Miller & Lents computed Lukoil’s reserves in accordance with the standards of the Securities and Exchange Commission. This year’s figure was close to the results reported in December 2011.