Proved Reserves of Crude Oil fell 5.78% to 0.175 bil barrels in Papua New Guinea in 2015

Proved reserves of crude oil fell 5.78% to 0.175 bil barrels in Papua New Guinea in 2015, according to EIA.

Historically, proved reserves of crude oil in Papua New Guinea reached an all time high of 0.400 bil barrels in 1996 and an all time low of 0.050 bil barrels in 1985. When compared to Papua New Guinea's main peers, proved reserves of crude oil in Australia amounted to 1.19 bil barrels, 3.69 bil barrels in Indonesia, 0.067 bil barrels in New Zealand and 0.139 bil barrels in Philippines in 2015.

Papua New Guinea has been ranked 57th within the group of 95 countries we follow in terms of proved reserves of crude oil, 3 places below the position seen 10 years ago.