DD&A
Depreciation, depletion and amortisation of
building, plant and equipment, exploration and development expenditure.
delineation well
Comprises two categories: near-field
exploration wells and appraisal wells. Near-field exploration wells are wells located nearexisting fields/discoveries and have a higherexpectation of success than wildcat explorationwells. These wells test independent structuresor traps and have a higher risk of failure thanappraisal or development wells. An appraisalwell is a well drilled for the purpose ofidentifying extensions to known fields ordiscoveries. 
development well
Wells designed to produce hydrocarbons from 
a gas or oil field within a proven productivereservoir defined by exploration or appraisaldrilling.
EBIT
Earnings before interest and tax.
EBITDA
Earnings before interest and tax, depreciation,
depletion and amortisation of building, plantand equipment, exploration and developmentexpenditure and amortisation of goodwill.
finding cost per barrel of oil equivalent
Exploration and delineation expenditure per
annum divided by reserve additions net ofacquisitions and divestments.
hydrocarbons
Solid, liquid or gas compounds of the elements
hydrogen and carbon.
LNG
Liquefied natural gas.
LPG
Liquefied petroleum gas, the name given to
propane and butane in their liquid state.
mbbls
Thousand barrels.
mean resource potential
The average of the range of recoverable
resources.
mmbbls
Million barrels.
mmboe
Million barrels of oil equivalent.
mmscf/d
Million standard cubic feet per day.
petroleum liquids
Crude oil, condensate, or its derivative
naphtha, and the liquefied petroleum gasespropane and butane.
PJ
Petajoules. Joules are the metric measurement
unit for energy. A petajoule is equal to 1 joulex 10
15. The equivalent imperial measure to
joules is British Thermal Units (BTU). Onekilojoule = 0.9478 BTU.
Proven reserves (1P)
Proven reserves (1P) are those reserves that, to
a high degree of certainty (90% confidence),are recoverable. There is relatively little riskassociated with these reserves. Provendeveloped reserves are reserves that can berecovered from existing wells with existinginfrastructure and operating methods. Provenundeveloped reserves require development. 
Proven plus Probable reserves (2P)
Proven plus Probable reserves (2P) are those
reserves that analysis of geological andengineering data suggests are more likely thannot to be recoverable. There is at least a 50%probability that reserves recovered will exceedProven plus Probable reserves. 
Proven, Probable plus Possible reserves (3P) 
Proven, Probable plus Possible reserves (3P)
are those reserves that, to a low degree ofcertainty (10% confidence), are recoverable.There is relatively high risk associated withthese reserves. 
PSC
Production sharing contract.
reserve replacement cost per barrel of 
oil equivalent
Exploration, delineation and development
expenditure per annum divided by reserve 
additions net of acquisitions and divestments.
Development includes all development andfixed asset expenditure net of stay-in-businessand corporate capital expenditure.
reserve replacement ratio
Reserves added during the reporting period
divided by the production over the sameperiod, reported as a percentage. 
resource potential
Resource potential refers to those quantities 
of petroleum yet to be discovered. It may refer to single opportunities or a group of opportunities.
ROAE
Return on average equity.
ROACE
Return on average capital employed.
seismic
Data used to gain an understanding of rock
formations beneath the earth’s surface usingreflected sound waves.
tcf
Trillion cubic feet.
TJ
Terajoules. Joules are the metric measurement
unit for energy. A terajoule is equal to 1 joulex 10
12.
total recordable case frequency rate (TRCFR)
A statistical measure of safety performance.