On Monday, Russia's largest oil firm, state-controlled Rosneft (ROSN.MM), reported a 163 percent reserves replacement ratio under the Petroleum Resources Management System (PRMS) criteria in 2009.

The press release is quoted as saying:

Reserves under the PRMS methodology, formerly known as SPE, stood at 22.858 billion barrels of oil equivalent (boe), up 2.5 percent from 22.307 billion boe in 2008. Under the more stringent U.S. Securities and Exchange Commission's (SEC) methodology, Rosneft's reserves rose to 15.146 billion boe from 14.448 billion boe in 2008.

Click here to access the entire press release ^[1]