These three Fields have exhibited replacement reserves Typical is The Nong Yao oil field contains 12.4 million bbl of 2P oil reserves, on a net working interest acquired basis, as of Dec. 31, 2021, based on the company's internal (non-independent) management estimate.
In 2015 when production began, Nong Yao was forcast to produce 2.4 million barrels over the life of the field .
By the end of 2021, the Nong Yao oil field had produced over 20 million bbl of oil and every year the expected ultimate recovery (combination of actual production and expected reserves) of oil from the field has increased with the identification and development of additional accumulations.
So, after producing 20 m barrels relative to a forecast of 12,4 m barrels in 2015, our net interest is still 12.4 million 2P barrels of premium light oil and plenty of undrilled prospects..