Description
Oil or gas that it is anticipated can be produced. Technical Reserves are theoretically producible at a gross operating margin by e.g. normal primary or secondary recovery methods, whole Commercial Reserves are restricted to volumes recoverable at an acceptable profitability. The detailed definitions are important in oil and gas financial and other information, and are quoted more fully in Section 6 in the form currently approved by the Society of Petroleum Engineers.
Source :
Alpha Thames Ltd 2004