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).
|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 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.