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Proved Reserves
(redirected from Proven reserves)

   Also found in: Encyclopedia, Wikipedia 0.01 sec.
Proved Reserves
The estimated amount of a natural resource, especially an energy resource, that has been measured with reasonable certainty and is obtainable with existing equipment and under current operating conditions. Proved reserves are important to energy companies that wish to extract as much of a resource as possible at the least amount of risk. See also: Developmental oil and gas partnership.

proved reserves
The quantity of minerals expected to be recoverable under current economic and operating conditions. The amount of proved reserves is important in valuing the stock of a company with significant holdings in natural resources.


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The original plan was to reach this capacity by end-2004, with early production begun in November 2001 at the rate of 55,000 b/d at Soroush which had proven reserves of 500m barrels.
The proven reserves in the North African country are 11.
The upstream oil industry in Africa accounts for 7% of the world's total, with proven reserves of 76 billion barrels.
 
 
 
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