Gazprom Neft Board As of 31 December 2012, Gazprom Neft and its subsidiaries hold the mineral rights to 74 license areas located in 11 regions of Russia. In Serbia, the Gazprom Neft's subsidiary Naftna Industrija Srbije, holds 69 licenses. Based on an audit of reserves conducted by DeGolyer and MacNaughton and according to the Petroleum Resources Management System standards, the company's proven reserves at the end of 2012 totaled 1.2 billion tonnes of oil equivalent, and its reserve replacement ratio was over 286%. Most of the company's oil production operations in Russia are carried out by three subsidiaries: Gazpromneft-Noyabrskneftegaz, Gazpromneft-Khantos and Gazpromneft-Vostok.
Gazprom Armenia Gazprom Armenia Gazprom Armenia (), formerly known as ArmRosGazprom (; ), is a subsidiary of the Russian Gazprom company in Armenia. It was founded in 1997 as a joint Russian-Armenian natural gas pipeline project. When it was founded, the Russian state gas monopolist Gazprom owned 45% of stock, the Energy Ministry of Armenia 45% and the ITERA company 10%. In 2014, Gazprom became the sole owner of the company and renamed it Gazprom Armenia. Director General of the company is Karen Karapetyan. The company operates the gas supply for Armenia's domestic gas market as also power generation. In April 2006,