ANNUAL REPORT 2005 - Lukoil

FINANCIAL ACCOUNTS
Estimated net proved oil and gas reserves and changes thereto for the years 2005, 2004 and 2003 are shown in the
tables set out below.
Millions of barrels
Crude oil
Consolidated subsidiaries
International Russia Total
Group's share
in equity
companies
January 1, 2003 327 14,386 14,713 545 15,258
Total
Revisions of previous estimates 15 493 508 97 605
Purchase of hydrocarbons in place* - 571 571 (206) 365
Extensions and discoveries - 420 420 - 420
Production (8) (552) (560) (32) (592)
Sales of reserves (79) - (79) - (79)
December 31, 2003 255 15,318 15,573 404 15,977
Revisions of previous estimates 8 (63) (55) 65 10
Purchase of hydrocarbons in place* 12 22 34 (1) 33
Extensions and discoveries - 606 606 18 624
Production (11) (596) (607) (28) (635)
Sales of reserves - (35) (35) (2) (37)
December 31, 2004 264 15,252 15,516 456 15,972
Revisions of previous estimates (43) 29 (14) (6) (20)
Purchase of hydrocarbons in place* 174 266 440 (86) 354
Extensions and discoveries 28 472 500 6 506
Production (15) (619) (634) (30) (664)
Sales of reserves - (34) (34) - (34)
December 31, 2005 408 15,366 15,774 340 16,114
Proved developed reserves
December 31, 2003 143 9,792 9,935 272 10,207
December 31, 2004 124 10,205 10,329 322 10,651
December 31, 2005 255 10,070 10,325 258 10,583
* Purchase of hydrocarbons in place for equity companies includes transfers of reserves to the consolidated group
upon those equity companies becoming subject to consolidation.
The minority interest share included in the above total proved reserves was 580 million barrels, 259 million barrels and
256 million barrels as of December 31, 2005, 2004 and 2003, respectively. The minority interest share included in the
above proved developed reserves was 172 million barrels, 125 million barrels and 133 million barrels as of December 31,
2005, 2004 and 2003, respectively. Substantially all minority interests relate to the reserves in the Russian Federation.
170