Royal Dutch/Shell Group has placed the final restated reduction in reserves for 2002 at 4.47 billion barrels of oil equivalent (boe) following a review.
The figure was slightly ahead of the 4.35 billion boe it announced last month. The group added changes in reserves accounting also led to a reduction in 2003 production of 9 million boe and proved reserves of 103 million boe.
This will leave the company with a reserve replacement ratio of 63 per cent, proved reserves of 14.35 billion boe, and 10.2 years of production in 2003.
The latest adjustment mainly reflected reforms in how it treats its reserves and production in some of its operations in Canada, the company said.
Shell is due to publish on Friday its 2003 annual report and accounts which will be submitted for approval at its June 28th AGM.