Offshore Oil Reserves
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The total estimated amount of oil in an oil reservoir, including both producible and non-producible oil, is called oil in place. However, because of reservoir characteristics and limitations in petroleum extraction technologies, only a fraction of this oil can be brought to the surface, and it is only this producible fraction that is considered to be reserves. The ratio of producible oil reserves to total oil in place for a given field is often referred to as the recovery factor. Recovery factors vary greatly among oil fields. The recovery factor of any particular field may change over time based on operating history and in response to changes in technology and economics. The recovery factor may also rise over time if additional investment is made in enhanced oil recovery techniques such as gas injection, surfactants injection, water-flooding, or microbial enhanced oil recovery. Based on data from OPEC at the beginning of 2011 the highest proved oil reserves including non-conventional oil deposits are in Venezuela (20 per cent of global reserves), Saudi Arabia (18 %,of global reserves), Iran (9 %). Because the geology of the subsurface cannot be examined directly, indirect techniques must be used to estimate the size and recoverability of the resource. While new technologies have increased the accuracy of these techniques, significant uncertainties still remain. In general, most early estimates of the reserves of an oil field are conservative and tend to grow with time. This phenomenon is called reserves growth. Many oil-producing nations do not reveal their reservoir engineering field data and instead provide unaudited claims for their oil reserves. The numbers disclosed by some national governments are suspected of being manipulated for political reasons. From Wikipedia under the
GNU Free Documentation License Nounreserves
reserves
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GNU Free Documentation License ) gcaptain.com 620 x 1024px [source page] A Map of World Oil Reserves . ) www.energyinsights.net 442 x 509px [source page] offshore oil discoveries, From Google Image Search: "offshore oil reserves" 2 min., 13 sec. www.youtube.com Tue, 13 Apr 2010 22:14:07 PDT vessels that support offshore energy, has issued the following statement on the US Governments announcement to increase offshore energy production ... 1 min., 30 sec. www.youtube.com Wed, 11 May 2011 13:45:29 PDT I thank the gentleman for yielding. If enacted, this bill will open up areas of the Outer Continental Shelf where there are the greatest known oil ... From Google Video Search: "offshore oil reserves" Why won't 0bama let them give drilling permits? Q. One permit for a new well in a year will not help make us self sufficient. The government has said that we will lose 250,000 barrels a day in production here in the US over the next year, as well as losing the same amount for the following year. While we have massive oil and shale oil reserves around the country and offshore (which the Chinese are drilling for). And that doesn't include the natural gas. Asked by Take the SOBs out - Thu Apr 7 19:21:27 2011 - Politics - 16 Answers - Comments A. because he is our enemy. Answered by Bill - Thu Apr 7 19:24:55 2011 Miceico Is The 4th Richest Oil Nation In The World, Why Do They Cry Poor? The Are Also The 12 Strongest Econ?
Q. Economy in the world mexico is the 4Th richest oil nation in the world source: CNN 1. The state petroleum monopoly Pemex had discovered big oil deposits offshore in the Gulf of Mexico that were twice Alaska's North Slope -- doubling the nation's reserves -- just before Lopez Portillo was elected. He concentrated on developing petroleum production, quickly turning Mexico into the world's fourth-richest oil nation at a time when the Organization of Petroleum Exporting Countries cartel was squeezing top dollar out of the United States and other big industrialized countries Asked by Don M - Mon Nov 27 11:08:28 2006 - Government - 3 Answers - Comments A. Huge gap between rich and poor. Pervasive corruption. The USA is getting there too: (archived at: ) Answered by Andy - Mon Nov 27 11:14:27 2006 From Yahoo Answer Search: "offshore oil reserves" |
Street Insider.com (subscription) Tue, 31 Jan 2012 03:44:26 -0800 W&T Offshore , Inc. (NYSE: WTI) reported that year-end 2011 proved reserves increased 44% to 116.9 million barrels of oil equivalent, which represents a reserve replacement ratio of 312% and an increase in PV-10 of proved reserves of 63%. USA TODAY Tue, 24 Jan 2012 19:25:33 -0800 By Wendy Koch, usa today in a broad appeal to US voters, President Obama said Tuesday he will open more than 75% of potential offshore oil and gas resources to exploration and, at the same time, produce enough clean energy on public land to power three ... From Google News Search: "offshore oil reserves" eurasiareview.com JTW, eurasiareview.com 2011-09-29 04:26:26 Estimates regarding eastern Mediterranean offshore gas and oil reserves are over optimistic. The sea is too deep more than 1500 meters plus 2600 meters of rock and soil need to be drilled. One should recall once more ... oilinvestingnews.com helen, oilinvestingnews.com 2011-07-25 11:35:31 Exploration off of the eastern coast of Canada has turned up crude oil , and although these reserves are significantly more modest than what has been unearthed farther west, eastern offshore oil is crude in its conventional ... From Google Blog Search: "offshore oil reserves" Offshore Oil Reserves, Exploration and Production ... An informational site about Offshore Oil Reserves, Exploration and Production. www.offshoreoilreserves.com From Bing Site Search: "offshore oil reserves" csmonitor.com As its peers in the region see their ioili production slipping Brazil's state-controlled ioili company Petrobras is entering a new era as the region's silent giant. www.csmonitor.com/World/Americas/2008/1114/p01s04-woam.html peakoil.com Namibia Sees 11 Billion Barrels In iOffshore Oil Reservesi. An estimated 11 billion barrels in ioili ireservesi have been found off Namibiaas coast, with the first production ... peakioili.com/geology/namibia-sees-11-billion-barrels-in-ioffshore-oil-reservesi From Web Search: "offshore oil reserves"
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