gas and oil reserves

Gas and oil reserves are the estimated amounts of these fossil fuels that are economically recoverable from beneath Earth's surface, using current technology and market conditions. Reserves are categorized into proven (certain), probable, and possible, reflecting the confidence level in their existence. They are essential for energy supply, powering industries, transportation, and heating. Extraction involves drilling into underground reservoirs where oil and gas are trapped. Over time, reserves can change due to new discoveries, technological advancements, or economic factors affecting profitability. Accurately assessing reserves helps countries and companies plan for energy needs and manage resources responsibly.