annual_repport_staatsolie_2016_lr
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Annual REPORT<br />
Confidence in Our Own Abilities<br />
68<br />
2 Capitalized Cost relating to oil producing activities as at December 31, <strong>2016</strong><br />
US$ 1,000 <strong>2016</strong> 2015<br />
Proved oil properties 809,453 673,624<br />
Accumulated depreciation (474,365) (374,399)<br />
Net capitalized costs 335,088 299,225<br />
3 Results of operations for oil producing activities for the year ended December 31, <strong>2016</strong><br />
US$ 1,000 <strong>2016</strong> 2015<br />
Revenues 280,352 360,752<br />
Production costs (44,783) (53,615)<br />
Exploration costs (1,462) (13,946)<br />
Depreciation and provisions (36,004) (35,565)<br />
198,103 257,626<br />
Income tax expenses - (3,686)<br />
Results of operations from producing activities (excl. corporate overhead interest cost) 198,103 253,940<br />
Unaudited ‐ see accompanying auditor’s report<br />
4 Reserve Quantity Information for the years ended December 31, <strong>2016</strong> and 2015<br />
Proved developed and undeveloped reserves ( x 1,000 Bbls) <strong>2016</strong> 2015<br />
Beginning of the year 83,980 99,980<br />
Revisions of previous estimates 6,220 (10,000)<br />
Production (6,000) (6,000)<br />
End of the year 84,200 83,980<br />
Proved developed reserves <strong>2016</strong> 2015<br />
Beginning of the year 60,250 66,270<br />
End of the year 60,624 60,250<br />
Proved undeveloped reserves <strong>2016</strong> 2015<br />
Beginning of the year 23,450 33,660<br />
End of the year 23,763 23,450<br />
Rounding off may lead to apparent inconsistencies<br />
Note: The oil reserves are located entirely within one geographic area in Suriname.
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