Russia's Bashneft oil reserves seen at 1.27 bln bbls

MOSCOW, April 14 (Reuters) - Russian mid-sized oil company Bashneft (BANE.RTS), owned by holding company Sistema AFKC.MM, said on Wednesday its proven reserves were valued at 1.27 billion barrels after its first independent audit in 12 years.

The company said the audit was conducted by Miller&Lents under Petroleum Resources Management System (PRMS) criteria.

"At current output levels, the company's proven oil reserves will last for more than 20 years," Bashneft President Viktor Khoroshavtsev said in a statement. (Reporting by Vladimir Soldatkin, editing by Robin Paxton)