KazMunaiGas Posts 2009 Reserves
JSC КаzМunaiGas Exploration Production announced results of the annual reserves audit, as at December 31, 2009.
According to a report by the independent energy consulting firm Gaffney, Cline & Associates, proved plus probable (2P) reserves were 234,415 thousand tonnes (1,725 million barrels), covering KMG EP's interests in Uzen and Emba fields. The reserves replacement ratio was 25% i.e. 2.2 million tonnes (16 million barrels) were added against production of nearly 9 million tonnes (66 million barrels). The reserves replacement ratio over the last three years was 212% i.e. 59 million tonnes (436 million barrels) were added against production of 28 million tonnes (206 million barrels). The reserves-to-production ratio at the end of 2009 was 26 years.
Proved oil reserves (1P) are 87,874 thousand tonnes (646 million barrels). Proved, probable and possible (3P) reserves stand at 270,468 thousand tonnes (1,989 million barrels).
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