مجلة البشائر الاقتصادية
Volume 12, Numéro 2, Pages 446-465
2026-09-01
Reserve Depletion, Depreciation Of Capitalized Petroleum Assets, And Economic Value: An Illustrative Production-sharing Contract Model Inspired By The Algerian Framework (20-year Contractual Horizon)
Authors : Derrouis Salima . Lahlou Chérif .
Abstract
This article develops a systemic analysis of petroleum reserve depletion, CAPEX capitalization, depreciation of petroleum assets, and economic value. Financial credibility depends on consistency among reserves, CAPEX, technical depletion, recoverable amount, taxation, cost recovery, and rent sharing. The qualitative, analytical, and illustrative approach combines a depletion-CAPEX-governance matrix, a 0-3 ordinal scale, and a constructed production-sharing contract inspired by the Algerian framework. SONATRACH is treated as the national non-operating contracting party, assumed to exercise a partial financing option, while the operator-investor conducts operations; the financing split is not quantified separately. The analysis connects past CAPEX, current Cost Oil and Profit Oil, and future economic value. Depletion information supports accounting credibility, contractual control, and informational sovereignty. Results derive from a simplified 20-year model; they do not represent an actual agreement or an exhaustive field study and do not support statistical generalization.
Keywords
depreciation ; ; CAPEX ; depletion ; governance ; petroleum rent
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