64 Woodside Petroleum Ltd|Annual Report 2018
RESERVES AND
RESOURCES
The Scarborough acquisition contributed 640 MMboe to Best Estimate Contingent resources (2C)
while start-up of Greater Western Flank Phase 2 contributed 48 MMboe to North West Shelf Proved
plus Probable (2P) Developed reserves.
MMboe
1P Reserves 2P Reserves 2C Contingent resources
13 15 1714 16 18
1,143
1,048
1,150
1,080
1,012
915
13 15 1714 16 18
1,437
1,339
1,442
1,508
1,334
1,238
Woodside’s,,, reserves and contingent resources overview* (Woodside share, as at 31 December 2018)
Dry gas
Bcf
Condensate
MMbbl
Oil
MMbbl
Total
MMboe
Proved11 Developed13 and Undeveloped14 4,494.7 80.1 46.4 915.0
Proved Developed 2,333.4 43.3 15.4 468.0
Proved Undeveloped 2,161.4 36.7 31.0 447.0
Proved plus Probable12 Developed
and Undeveloped 6,052.7 108.2 67.7 1,237.8
Proved plus Probable Developed 3,260.5 59.8 25.7 657.5
Proved plus Probable Undeveloped 2,792.2 48.4 42.0 580.3
Contingent resources 29,124.2 214.1 193.6 5,517.2
*Small dierences are due to rounding.
Key metrics
Proved Proved plus Probable
2018 reserves replacement ratio15 % -3 -3
Organic 2018 reserves replacement ratio16 % -3 -3
Three-year reserves replacement ratio % 16 4
Organic three-year reserves replacement ratio
% 16 4
Reserves life17 Years 10 13
Annual production18 MMboe 93.6 93.6
Net acquisitions and divestments MMboe 0.0 0.0
13 15 1714 16 18
1,692
1,743
5,014
5,012
5,517
4,398