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Table 7. Exploration potential natural gas as at 1 January 2013. Commercial conditions: (EMV >0), and a gas price for 23 cents per cubic meter. Area T erritory Continental Shelf Exploration potential trend/history Expectation Exploration Potential 3 [Billion Sm ] 120 119 Figure 4 shows the development of the exploration potential in the Netherlands. The graph for the Dutch territory shows a gradual decline for both the high and the low estimate until present. The graph of the Continental Shelf shows an increase for the high estimate in particular around 2004, followed by a decline to a present day level similar to that in the 90's. Over time, part of the exploration potential has been drilled successfully, thereby converting the potential volumes into actual reserves. This is expressed in the increased height of the green columns (cumulative production and remaining reserves) in figure 3. The exploration potential of 100 billion cubic meter for the Territory as reported in 1992 had already been added to the reserves in 1996. The fact that nonetheless the exploration potential remains stable is due to the dynamics in the prospect portfolio on which the estimations of the exploration potential are based. Each year prospects are removed from the portfolio after the drilling of exploration wells, and new prospects are added. Evaluations of prospects may also lead to changes in the values of the prospect portfolio (see paragraph Portfolio Characteristics). 21PDF Image | Natural resources and geothermal energy in the Netherlands
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