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Answer :
The reserves available in this country are 3,177.6 million stock tank barrels of oil.
To find the reserves available in 'X' country, we will use the reserves to production ratio (RPR) formula. The reserves to production ratio (R/P ratio) is the estimate of the number of years that the remaining reserves of a non-renewable resource, such as oil, are likely to last at current production levels.
- Reserves = RPR × Annual Production
Where:
- Reserves = the amount of oil available in the country
- RPR = reserves to production ratio (99.3 in this case)
- Annual Production = 32 million stock tank barrels of oil
Now, plug in the given values:
- Reserves = 99.3 × 32 million
- Reserves = 3,177.6 million stock tank barrels of oil
So, the reserves available in 'X' country are approximately 3,177.6 million stock tank barrels of oil.
Learn more about the ratio of reserves at https://brainly.com/question/14869661
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