KMG EP Reserves Update as at 31 December 2017
JSC KаzМunaiGas Exploration Production announces the results of an independent audit of liquid hydrocarbon reserves at the Ozenmunaigas JSC, Embamunaigas JSC and the Ural Oil and Gas LLP (KMG EP’s share – 50%) fields as at 31 December 2017. The audit was performed by independent consultant DeGolyer and MacNaughton (“D&M”).
According to the D&M report, proved plus probable (2P) reserves of liquid hydrocarbons as at 31 December 2017 were 145 million tonnes (1,065 million barrels), equal to the level at the end of 2016. The reserve replacement ratio (the ratio of increase in reserves to annual production) was 100%.
Proved (1P) reserves of liquid hydrocarbons at 31 December 2017 were 102 million tonnes (754 million barrels), and proved, probable and possible (3P) reserves amounted to 193 million tonnes (1,418 million barrels).
Liquid hydrocarbon reserves as of 31 December 2017
Million tonnes | Million barrels | |||||
1P | 2P | 3P | 1P | 2P | 3P | |
| Reserves as at 31 Dec 2016 | 93 | 145 | 196 | 684 | 1,061 | 1,433 |
| Production | 8.3 | 8.3 | 8.3 | 61 | 61 | 61 |
| Reserves increase | 17.6 | 8.3 | 5.5 | 131 | 65 | 46 |
| Reserves as at 31 Dec 2017 | 102 | 145 | 193 | 754 | 1,065 | 1,418 |
| Present worth at 10%, US$m |
|
|
| 4,253 | 5,170 | 5,840 |
The report does not include KMG EP’s share in reserves of JV Kazgermunai LLP, CCEL (Karazhanbasmunai) and PetroKazakhstan Inc.
