| Term | Description |
| 1P |
Proven reserves |
| 2P |
Proven and Probable reserves |
| barrel/bbl |
The standard unit of measurement for all production and sales – one barrel equals 159 litres or 35 imperial gallons |
| bcf |
Billion cubic feet where a billion is defined as 109. On average 1 bcf of sales gas = 1.055 petajoules |
| boe |
Barrels of oil equivalent - the factor used to convert volumes of different hydrocarbon production to barrels of oil equivalent. Conversion rate used by Oil Search for gas is 6,000 cubic feet gas is equivalent to 1 barrel of oil |
| bopd |
Barrels of oil per day |
| BTU |
British Thermal Units, a measure of thermal energy. 1 BTU is equivalent to 1,055 joules |
| CNG |
Compressed natural gas |
| development well |
Wells designed to produce hydrocarbons from a gas or oil field within a proven productive reservoir defined by exploration or appraisal drilling |
| GOR |
Gas to oil ratio |
| hydrocarbons |
Solid, liquid or gas compounds of the elements hydrogen and carbon |
| LNG |
Liquefied natural gas |
| LPG |
Liquid petroleum gas |
| MENA |
Middle East / North Africa |
| mmbbl |
Million barrels |
| mmscf/d |
Million standard cubic feet per day |
| mmtpa |
Million tonnes per annum (LNG) |
| PDL |
Petroleum Development Licence |
| PL |
Pipeline Licence |
| PRL |
Petroleum Retention Licence |
| PJ |
Petajoules – joules are the metric measurement unit for energy – a petajoule is equal to 1 joule x 1015 |
| PNG |
Papua New Guinea |
| PPL |
Petroleum Prospecting Licence |
| Proven reserves |
Proven reserves are those reserves that to a high degree of certainty (90% confidence), are recoverable – there is relatively little risk associated with these reserves |
| Proven & probable reserves |
Proven and Probable reserves (2P) are reserves that analysis of geological and engineering data suggests are more likely than not to be recoverable – there is at least a 50% probability that reserves recovered will exceed Proven and Probable reserves |
| Seismic Survey |
A survey used to gain an understanding of rock formations beneath the earth’s surface |
| tcf |
Trillion cubic feet (measurement of gas volume) |
| wildcats |
Exploration wells testing new play concepts or structures distanced from current fields |
