Total proved oil reserves in Australia 2010-2020

Published by L. Granwal, Sep 22, 2023
At the end of 2020, Australia had 2.4 billion barrels worth of oil reserves as opposed to 3.8 billion barrels in 2010.This was the lowest worth of oil reserves in the nation since 2010.

Total proved oil reserves in Australia from 2010 to 2020 (in billion barrels)

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Release date

July 2021

Region

Australia

Survey time period

2010 to 2020

Supplementary notes

Proved reserves of oil are generally defined as those quantities that are indicated by geological and engineering information to be, with reasonable certainty, recovered in the future from known reservoirs under existing economic and operating conditions. Reserves include gas condensate and natural gas liquids (NGLs) as well as crude oil.

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