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Supplementary Information — Movement in Oil and Condensate Reserves (Unaudited)
Proved and probable commercial reserves (unaudited)
| |
Turkmenistan
|
| |
Working interest
|
Entitlement
|
|
Commercial reserves
|
2008
million bbls
|
2007
million bbls
|
2008
million bbls
|
2007
million bbls
|
| As at 1 January |
651 |
643 |
324 |
301 |
| Revisions |
— |
20* |
(19)† |
31† |
| Production |
(15) |
(12) |
(9) |
(8) |
| As at 31 December |
636 |
651 |
296 |
324 |
* Revised on the basis of existing mapping.
† Revision attributed to the change in cost estimates and long-term price assumptions in accordance with the fiscal terms of the PSA.
Notes:
- Dragon has a 100% working interest in the Cheleken Contract Area in Turkmenistan.
- Proven and probable commercial reserves are based on a reserves report produced by an independent engineer. Reserves estimates are reviewed by the independent engineer based on significant new data or a material change with a review of the field undertaken generally every year.
The Group provides for depletion of tangible fixed assets on a net entitlements basis using proven and probable commercial reserves, which reflects the terms of the PSA.