Those are "reserves" means proven deposits. There's generally no point of searching for more if you have proven deposits for decades ahead.
That's why all the early predictions for peak oil have failed, the proponents assumed "proven oil reserves" are all that's left, while we still continue to search and find more. US ratio of "proven reserves" to production is stable for around 100 years.
That's why all the early predictions for peak oil have failed, the proponents assumed "proven oil reserves" are all that's left, while we still continue to search and find more. US ratio of "proven reserves" to production is stable for around 100 years.