proven reserves Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “proven reserves” in the English Dictionary

"proven reserves" in Business English

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proven reservesnoun [plural]

uk   us   (also proved reserves)
NATURAL RESOURCES the ​amount of ​gas or ​oil that is known to exist under the surface of the earth or under the sea and that is ​available for future use: In 2007, Canada had an ​estimated 179 ​billionbarrels of proven ​reserves, second only to Saudi Arabia's 262 ​billionbarrels.
(Definition of proven reserves from the Cambridge Business English Dictionary © Cambridge University Press)
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