Maintaining and Expanding Declining Reserves and a Stable Long-Term Supply Framework
First written in FY2016. 4 of 11 entries say "Restated". Latest entry: FY2026.
Japan Petroleum Exploration moved to the "Worse" side of this theme in 2021.
0 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「As of 31 March 2026 11,851 268,141 145,281 258,515 157,132 526,655 39 42,392 157,171 569,048」
Proved reserves increased substantially as a result of acquisitions and disposals, including the acquisition of Verdad Resources Intermediate Holdings LLC, to 157,171 thousand bbl of crude oil and 569,048 million cf of gas. - FY2024Decrease in crude oil reserves; increase in gas reservesAnnual report
「As of 31 March 2024 1,461 7,767 12,288 930 13,748 8,696 7 319 13,755 9,016」
Proved crude oil reserves declined from 14,144 thousand kL in the previous fiscal year to 13,755 thousand kL, while gas reserves increased from 7,964 million m³ to 9,016 million m³. The company discloses the breakdown of changes attributable to extensions and discoveries, revisions to evaluations, acquisitions and disposals, and production. - FY2023WorsenedAnnual report
「As of 31 March 2023 1,606 6,944 12,538 662 14,144 7,606 0 357 14,144 7,964」
Proved crude oil reserves declined from 16,934 thousand kL in the previous fiscal year to 14,144 thousand kL, while gas reserves declined from 8,552 million m³ to 7,964 million m³. Sakhalin-1 reserves are excluded because the information required for evaluation is difficult to obtain. - FY2022WorsenedAnnual report
「Increase (decrease) from acquisitions and disposals － － △551 △12,610 △9,605 △551 △12,610 △9,605 － － △551 △12,610 △9,605 As of 31 March 2022 1,616 7,187 11,510 － 371 13,127 － 7,557 3,808 995 16,934 － 8,552」
The transfer of the Canadian shale gas interests and the oil sands business resulted in a substantial decline in overseas crude oil, gas and bitumen reserves, and proved bitumen reserves were zero as of the end of March 2022. - FY2022-Q2SoftenedAnnual report
「The group’s reserves as of 31 March 2021, stated in the Annual Securities Report for the 51st fiscal year, include 1,484 thousand kL of crude oil and 10,022 million m³ of gas held by JML, and 13,237 thousand kL of bitumen held by JACOS. The impact of the termination of the two projects on the group’s reserves is scheduled to be reported in the Annual Securities Report for the 52nd fiscal year.」
Following the termination of the JML and JACOS businesses, the company reached the stage of reporting the impact on its previous reserves in the Annual Securities Report for the following fiscal year, further weakening the basis for maintaining and expanding reserves. - FY2020RestatedAnnual report
「To maintain and develop the E&P business, it is necessary to replenish and expand over the medium to long term the reserves and production volumes that decline as a result of production activities through the continuous acquisition of interests in concessions, exploration and development.」
The company has reaffirmed the need to offset and expand over the medium to long term the declines in reserves and production resulting from production through concession acquisitions, exploration and development. - FY2018-Q3RestatedAnnual report
「With respect to the impact on our group’s reserves and on the production target for FY2019 of 100,000 barrels per day and the reserves target of 550 million barrels set out in the medium-term business plan, following the discontinuation of the PNW project by JML and the end of bitumen production operations using the SAGD method in the DEMO area by JACOS, we intend to assess the impact in light of a review of JML’s upstream business development plans and other factors.」
The company continues to plan to assess the impact of the PNW project’s discontinuation and the end of production operations in the DEMO area on its production and reserves targets after reviewing its upstream business development plans. - FY2018-Q2RestatedAnnual report
「With respect to the impact on our group’s reserves and on the production target for FY2019 of 100,000 barrels per day and the reserves target of 550 million barrels set out in the medium-term business plan, following the discontinuation of the PNW project by JML and the end of bitumen production operations using the SAGD method in the DEMO area by JACOS, we intend to assess the impact in light of a review of JML’s future upstream business development plans and other factors.」
Following the discontinuation of the PNW project and the end of production operations in the DEMO area, the company continues to plan to assess the impact on its production and reserves targets after reviewing its upstream business development plans. - FY2018-Q1SoftenedAnnual report
「With respect to the impact on our group’s reserves and on the production target for FY2019 of 100,000 barrels per day and the reserves target of 550 million barrels set out in the medium-term business plan, following the discontinuation of the PNW project by JML and the end of bitumen production operations using the SAGD method in the DEMO area by JACOS, we intend to assess the impact in light of a review of JML’s future upstream business development plans and other factors.」
The company has not withdrawn the targets themselves for maintaining and expanding reserves, but has reached the stage of assessing the impact of the PNW project’s discontinuation and other factors after reviewing its upstream business development plans. - FY2017RestatedAnnual report
「For a company whose business is centered on exploration, development, production and sales, an important issue is to maintain and expand reserves that decline as a result of production and sales, and to establish a structure for the stable long-term supply of oil and natural gas.」
Maintaining and expanding reserves and establishing a stable supply structure are reiterated as important medium- to long-term issues. - FY2016First statedAnnual report
「For a company whose business is centered on exploration, development, production and sales, an important issue is to maintain and expand reserves that decline as a result of production and sales, and to establish a structure for the stable long-term supply of oil and natural gas.」
Replenishing and expanding reserves is positioned as a core issue for the long-term supply structure.