Glossary and Definitions

A-IFRS Australian equivalents to International Financial Reporting Standards
ASIC Australian Securities and Investments Commission
ASX Australian Securities Exchange
bbl(s) Blue barrel(s), oil barrel volume is 0.159 cubic metres
bcf Billion cubic feet of natural gas
boe Barrel of oil equivalent. The factor used to convert gas to oil equivalent is based upon an approximate energy value of 6,000 cubic feet per barrel and not price equivalence at the time
boepd Barrel of oil equivalent per day
bopd Barrel of oil per day inclusive of NGLs
CEPA Conservation and Environment Protection Authority PNG (formerly Department of Environment and Conservation) (DEC)
CNOOC China National Offshore Oil Corporation
DPE  Department of Petroleum and Energy (PNG)
EBITDAX Earnings before interest, tax, depreciation, depletion and amortisation, and exploration expenses
ESP  Electrical submersible pump
FID    Final investment decision
FPSO Floating production, storage and offloading vessel
FEED Front end engineering and design
GST  Goods and services tax
JOA   Joint operating agreement
km    Kilometres
LIBOR London inter-bank offered rate
LNG  Liquified natural gas
mmbbl Million barrels
mmbo Million barrels of oil
mmboe Million barrels of oil equivalent: where 1 bbl liquid equals 1 boe and 6 mcf raw gas equals 1 boe
mtpa Millions tonnes per annum
NDRC National Development and Reform Commission
NGL(s) Natural gas liquid(s)
ODP  Overall Development Plan
PL     Pipeline Licence
PDL   Petroleum development licence
PEP  Petroleum exploration permit
PMP  Petroleum mining permit
PRL   Petroleum retention licence
Reserves Reserves as included in this report refers to both Proven and Probable reserves (2P). Proven and Probable reserves are reserves that analysis of geological and engineering data suggests are more likely than not to be recoverable – there is at least a 50% probability that reserves recovered will exceed Proven and Probable reserves
Contingent Resources The company’s technically recoverable resources (2C) for its discovered oil and gas fields are classified as contingent resources. These resources would be expected to be booked in reserves (Proven and Probable reserves) once commercialisation arrangements have been finalised
PSA  Production Sharing Agreement
PNG  Papua New Guinea
SDA  Supplemental Development Agreement
Sq km Square kilometres
USD / $US United States dollars
WHP  Wellhead platform
WOU Workover unit
WLNG The “Western LNG” gas aggregation development project
2D Seismic Seismic recorded in 2 dimensions
3D Seismic Seismic recorded in 3 dimensions


Latest Announcement