Oil And Gas Reserves

Oil and gas reserves refer to the estimated amount of oil and gas that can be extracted from a particular location using current technology and economic conditions. These reserves are typically categorized into proved, probable, and possible reserves based on the level of certainty surrounding their existence and recoverability. Proved reserves are those that have a high degree of certainty of being recoverable, while probable and possible reserves have lower levels of certainty. The estimation of oil and gas reserves is a critical component of the exploration and production process, as it helps companies determine the potential profitability of a particular project or investment.
Your Previous Searches
Random Picks
  • Deconsolidation Point: Deconsolidation Point refers to a location where consolidated cargo is broken down into individual shipments for further transportation. In the maritime context, it is a designated location within a port or terminal where cargo is unpacked ... Read More >>
  • Flag: A piece of cloth or similar material, typically oblong or square, attachable by one edge to a pole or rope and used as the symbol or emblem of a country, institution, or organization. In maritime context, flags are used to communicate impor ... Read More >>
  • Locomotives: Locomotives are self-propelled vehicles that are used to pull or push railway cars. They are powered by an engine, usually fueled by diesel or electricity, and are designed to operate on railway tracks. Locomotives are an essential componen ... Read More >>
Top News

Japan will watch China's military after Beijing admits violating Japanese airspa...

Japanese officials say they are closely watching to see if China keeps its promise to prevent further violations of Japan’s airspace after explaining that an incursion by a Chinese military aircraft...

News Source: ABC News on 2024-11-20

Southeast Asian defense chiefs meet in Laos as maritime disputes with China are ...

Southeast Asian defense chiefs and representatives are meeting in the Laotian capital for security talks at a time of increasing maritime disputes with China in the Asia-Pacific and as the transition ...

News Source: ABC News on 2024-11-20

Biden's $100 billion disaster aid request includes money to rebuild the collapse...

President Joe Biden’s pending request to Congress for nearly $100 billion in emergency disaster aid includes money to rebuild Baltimore’s Francis Scott Key Bridge after its deadly collapse in Marc...

News Source: ABC News on 2024-11-19

The Houthis appear determined to score a hit on the American and European warshi...

The US and European Union have maintained a significant Middle East naval presence to battle the Houthis over the past year....

News Source: Business Insider on 2024-11-19

US defense chief says alliance with Philippines will transcend administrations...

U.S. Defense Secretary Lloyd Austin has condemned China's dangerous actions against the Philippines and renewed a warning that the United States would defend its treaty ally if Filipino forces come un...

News Source: ABC News on 2024-11-19