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Saudi Arabia in first independent reserves audit

RIYADH, January 10, 2019 – Saudi Arabia’s first independent audit of its hydrocarbons reserves has been completed and has registered a slight increase in the reserves, Saudi Aramco said on Wednesday.

 

The independent audit, conducted by consultancy DeGolyer & MacNaughton and applicable to December 2017, found the country holding 268.5 billion barrels of oil, 0.8% higher than the previous state estimate, according to the company statement. It found gas reserves of 9.21 tcm (325.1 tcf), which is 5.6% higher than the previous estimate.

The audit excluded unconventional oil and gas or any other unbooked reserves, Aramco noted.

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