Tethys Oil’s net working interest Reserves in Blocks 3&4
Development of Reserves (Working Interest), Blocks 3&4 | |||
Mbo | 1P | 2P | 3P |
Total | 14,040 | 23,901 | 36,211 |
Production 2023 | -3,219 | -3,219 | -3,219 |
Additions and revisions | 1,523 | 1,016 | 3,357 |
Total | 12,344 | 21,698 | 36,349 |
Reserve replacement ratio, % | 47% | 32% | 104% |
Additions and revisions include maturation of Contingent Resources to Reserves from the Shahd fields. Revisions of the Reserves also include the net of positive revisions on the Farha South and Saiwan East fields and negative revisions on the Ulfa field.
Based on ERCE’s model and current oil price assumptions, Tethys Oil’s net entitlement Reserves (Reserves after government take) amount to 6,419 mbo of 1P, 10,392 mbo of 2P and 14,881 mbo of 3P.
In addition to Reserves, Tethys Oil also announces net working interest Contingent Resources. The bulk of the estimated Contingent Resources are contained in the Ulfa, Samha and Erfan fields. Development of the Contingent Resources in the discoveries is contingent upon a committed work programme as well as budget to access these resources.
Contingent Resources (Working Interest), Blocks 3&4 | |||
Mbo | 1C | 2C | 3C |
Total | 5,356 | 15,529 | 32,994 |
The evaluation of the Reserves in
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