Reserves & Resources
2P Reserves by Asset and Product as at 31 December 2023
| As at 31 December 2023 | MMBOE | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Proved plus probable reserves (2P) | 22.6 | ||||||||||||||||||||||
| Reserves replacement ratio (1) | ~14% | ||||||||||||||||||||||
| Reserves (2P) life(2) | ~4.7 years | ||||||||||||||||||||||
Notes to the reserves summary
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The reserve-replacement ratio (RRR) is the amount of recoverable reserves (excludes acquisitions.) added to a company's reserves basis during the year divided by the production of the company during the same year.
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The 'reserves' life is the 2P reserves (Developed and Undeveloped) divided by production during the year on an economic interest basis.