Operating Review



Reserves

2P reserves breakdown by asset (net to KMG), %
(2019YE)
2P RESERVES BREAKDOWN BY ASSET
2P reserves breakdown by hydrocarbon type (net to KMG), % (2019YE)
2P RESERVES BREAKDOWN BY HYDROCARBON TYPE

Reaffirming its commitment to transparency, KMG, for the first time ever, disclosed a summary of its reserves report prepared under the internationally used PRMS guidelines. According to the reserves audit by the international independent consulting firm DeGolyer & MacNaughton, KMG’s proved plus probable hydrocarbon (2P) reserves were at 676 mln tonnes of oil equivalent (5,220 mmboe) as of 31 December 2019.

The proved reserves (1P) life of oil and condensate is 16 years (based on 2019 production level), far exceeding the average for the global oil majors (about 12 years).

Net reservesNet Reserves are defined as that portion of the gross reserves attributable to (1) the interest held by KMG after deducting all interests held by others, as well as (2) interests that are not held by KMG, but which KMG controls. under PRMS (net to KMG), YE2019
Reserves Oil and condensate, mln barrels NGL,
mln barrelsNatural gas liquids. 		Commercial gas, bcf Hydrocarbon reserves, mmboe
Proved (1P) 2,825 168 5,204 3,860
Proved plus Probable (2P) 3,993 189 6,228 5,220
Proved plus Probable plus Possible (3P) 4,686 224 7,070 6,089
Reserves Oil and condensate, mln tonnes NGL,
mln tonnesNatural gas liquids. 		Commercial gas, bcm Hydrocarbon reserves, mmtoe
Proved (1P) 371 14 147 499
Proved plus Probable (2P) 524 16 176 676
Proved plus Probable plus Possible (3P) 616 19 200 790

6,000 cf = 1 boe; 1 cm = 35.31466 cf; 1 ton ~ 7.62 barrels.