Estimated net proved reserves at December 31, 2009 were 6.57 bboe (down 0.4% from 2008)
proved reserves
Acquisitions Eni’s estimated proved reserves were determined taking into account Eni’s share of proved reserves of equity-accounted entities 6
Additions to proved reserves booked in 2009 were 592 mmboe and derived from:
revisions of previous estimates were 751 million boe, partly related to higher entitlements reported in certain PSAs (up 342 million boe) resulting from lower year end oil prices from a year ago (Brent price was $36.55 per barrel at December 31, 2008 compared to $96.02 per barrel at December 31, 2007), net of downward revisions associated with marginal productions in certain mature fields. These revisions were reported in Angola, Kazakhstan and Libya;
extensions and discoveries were 71 million boe, with major increases booked in Angola, Egypt, Nigeria, Norway and United States;
improved recovery were 34 million boe mainly reported in Algeria, Angola, Congo and Libya
The largest additions were related to following fields/projects: Goliat in Norway, Belayim in Egypt, M’Boundi in Congo, Bahr Essalam in Libya, CAFC and MLE in Algeria and Zubair in Iraq.
(6) Includes a 29.4% stake of the reserves of the three equity-accounted Russian companies participated by the joint-venture OOO SeverEnergia, owned by Eni (60%) and its Italian partner Enel (40%) which on September 23, 2009 completed the divestment of the 51% stake in the venture to Gazprom in line with the call option arrangement.
Acquisitions related mainly to a 27.5% stake purchased from Quicksilver Resources Inc in the Alliance area, in Texas.
In 2009 Eni achieved an all sources reserve replacement ratio 7 of 96% with a reserve life index of 10.2 years (10 years at December 31, 2008). Excluding the price effect, the replacement ratio would be 109%.
(7) As of December 31, 2009 and 2008 Eni’s proved reserves of the Kashagan field were determined based on Eni working interest of 16.81% and 18.52% as of December 31, 2007.
Glossary
RSSSubscribe to our feeds
AlertPlease Register to SMS and Mail Alert
HelpFor help with this site click here.
Last updated on 28/04/10