Proved reserves - in the classification adopted in the USA and a number of other developed countries, an economic indicator reflecting the amount of mineral reserves that can be measured with sufficient accuracy (usually not lower than 20%), for a particular mine, company and etc. As a rule, this term is applied to hydrocarbon reserves.
Proved reserves consist of two parts - measured reserves and estimated reserves. Based on this category of reserves, mining enterprises are being designed, and the risks of developing the field are calculated.
Corresponds to the balance reserves of categories A, B, C1 (C2 in deposits of the 4th complexity group) in the mining circuit of explored deposits, the economic efficiency of extraction of which is confirmed by a feasibility study of constant or operational conditions. UN Framework Classification Code 111.
See also
- Oil reserves
- Probable reserves
Links
- Glossary of Terms Used in Petroleum Reserves / Resources (PDF). Society of Petroleum Engineers (2005). - “Proved reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with reasonable certainty to be commercially recoverable, from a given date forward, from known reservoirs and under current economic conditions, operating methods, and government regulations .... If probabilistic methods are used, there should be at least a 90% probability that the quantities actually recovered will equal or exceed the estimate. Often referred to as P1, sometimes referred to as “proven”. ” Date of treatment April 20, 2008. Archived March 28, 2012.
- Petroleum Reserves Definitions // SPE 1997: "Proved Reserves"