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The results of the analysis for 12 major oil producing countries suggest that OPEC ultimate recoverable resource would be as much as 1271 Gb.
The gas sweep method may supply a new strategy that would be helpful to make low saturation hydrate reservoirs become a technically recoverable resource.
Generating an economically recoverable resource (ERR) probability function that shows the full uncertainty range is highly important for such an economic analysis.
Prime among the uncertainties are the size of the recoverable resource, the rate at which production can be achieved, and the extent to which the concerns of local residents and environmental groups can be accommodated.
Although estimates of future production must be forward looking, we show how the observed sequence of historical drilling results leads naturally to a statistical estimator of the remaining volume of technically recoverable resource.
In fact, expert estimates on the ultimate recoverable resource base have consistently grown over the past few decades, even though the world has been guzzling oil as if there was no tomorrow (see chart 5).Peter Odell of Rotterdam's Erasmus University points out that "since 1971, over 1,500 billion barrels have been added to reserves.
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The survey looked at "undiscovered technically recoverable resources," defined as resources that can be produced using current technology.
Such information is important in evaluating recoverable resources from the reservoir.
Some publications address technically recoverable resources (TRR) of unconventional gas in small geographic areas in North America.
This bill would probably open up less than half of the remaining 20percentt, amounting to approximately two-thirds of one percent of all globally recoverable resources.
It noted that offshore oil resources currently generate about one-third of U.S. production and contain more technically recoverable resources than all onshore and shallower-water resources combined.
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