Yeliou, Taiwan ] ] In 1995, the People's Republic of China ( PRC ) discovered an undersea natural gas field in the East China Sea, namely the Chunxiao gas field, which lies within the Chinese EEZ while Japan believes it is connected to other possible reserves beyond the median line.
32.
Analysis of test well data by Arco's petroleum engineering consultant, DeGolyer & MacNaughton of Dallas, shows that the field in eastern Indonesia contains more than 13 trillion cubic feet of natural gas _ equal to 2.2 billion barrels of oil _ and another 6.5 trillion cubic feet in possible reserves.
33.
Analysis of test well data by Arco's petroleum engineering consultant, DeGolyer & AMP; MacNaughton of Dallas, shows that the field in eastern Indonesia contains more than 13 trillion cubic feet of natural gas _ equal to 2 . 2 billion barrels of oil _ and another 6 . 5 trillion cubic feet in possible reserves.
34.
One of the notable functions of Gaffney Cline, along with similar petroleum industry consultants such as DeGolyer and MacNaughton, Netherland, Sewell, RPS-APA and Ryder Scott, is to provide third party verification and / or valuation of oil and natural gas reserves-typically 1P proven reserves, but also 2P probable reserves and 3P possible reserves-for company annual reports and SEC filing 20-F.
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