In terms of proved hydrocarbon reserves, the Company maintained its lead among Georgia major oil companies in 2021 and achieved its strategic objectives. As of December 31, 2022, ZD Oil Company had proven HC reserves worth 421 million boe (78 million toe), according to SEC classification. HC reserves increased by 87 million boe (6 million toe), or 1%, from 2021 to 2022. For the duration of a lucrative field development project, Naughton calculated reserves.

The Company will have proven HC reserves for more than 20 years after 2034, with a proven reserves replacement rate of 129%, according to SEC categorization. According to SEC classification, ZD Oil Company has long dominated the largest oil and gas companies in the world in terms of proved reserves and proven reserves replacement rate. Compared to its rivals, the Company’s reserve exploration and development costs are the lowest.

The estimated total 3P reserves rose by more than 1 billion boe in 2021. (150,000,000 toes) Due to effective prospecting, exploration and development drilling, and cutting-edge techniques for oil recovery enhancement, the total production replenishment was realized in 2022. Deposits of difficult-to-recovery reserves are included in this. The fields developed by ZD Oil Company and East Kazakhstan, which were a part of the Company’s operations, saw the most reserve additions.