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 billion barrels of proven reserves, second only to Saudi Arabia's 262 billion barrels.

(Definition of “proven reserves” from the Cambridge Business English Dictionary © Cambridge University Press)