Proven and probable reserves (2P) net to DNO
|MMboe at yearend||2021||2020||2019||2018||2017|
Reporting change effective Q1 2021
The Company historically reported its net production and reserves from licenses governed by PSCs/PSAs on a Company Working Interest (CWI) basis, which was calculated after royalty and included DNO’s additional share of cost oil covering its advances towards the government carried interest. In the Tawke license in Kurdistan, the CWI figures also included production and reserves attributable to the additional three percent of gross license revenues under the August 2017 receivables settlement agreement with the Kurdistan Regional Government (KRG).
Effective Q1 2021, the Company reports its net production and net reserves based on its percentage ownership in the licenses. The main reason for the change is to improve comparability with peer companies.