http://www.nytimes.com/2011/02/04/te...y/04nokia.html
http://www.guardian.co.uk/business/2...ated-wikileaks
There are around 47,000 oil wells in the world, and the US has about 31,000 of them. But, fewer than 4,000 are producing oil in useful amounts.
In a PDF by Matthew R. Simmons, entitled "Giant Oil Fields", written in 2000, is the following information.
Needless to say, we never reached the "3,000 new fields by 2010". Attached is a graphic listing the top giant oil fields in the world, the ones producing more than 500,000 barrels per day. About 20 years ago the US changed its policy toward oil producing countries and gave "favored" status to those with more Oil reserves. Overnight the "proven" reserves of most oil producing countries doubled. Now the roosters are coming home to root.
http://www.guardian.co.uk/business/2...ated-wikileaks
There are around 47,000 oil wells in the world, and the US has about 31,000 of them. But, fewer than 4,000 are producing oil in useful amounts.
In a PDF by Matthew R. Simmons, entitled "Giant Oil Fields", written in 2000, is the following information.
Traditionally, the definition of a giant or super-giant oilfield has been a field whose reserves exceed one billion barrels. Super giant fields are generally ones whose reserves exceed five or even ten billion barrels. This definition often gets ambiguous as the reserves for some fields get depicted as “total possible reserves” or “oil in place” while other field’s reserves sizes adhere to the strict definition of “proven” and “recoverable reserves.” Perhaps it is time for the energy world to change this reserve focus and begin defining giant oilfields in terms of their daily production. This yardstick can be accurately measured unlike total reserves, which are always estimates.
Approximately 120 giant oilfields in the world produce 100,000 barrels a day or higher. In total, these fields produce in excess of 32 million barrels a day, or 47% of the world’s total supply. Even within this tiny tip of the world’s oilfields, half of these 120 giant fields barely exceed the minimum 100,000 barrel per day production parameter that I have used to define a giant oilfield. The 62 smallest of these “giant fields” account or 12% of the world’s daily oil supply. In contrast, the fourteen largest account for over 20%. The average age of these 14 largest fields is 43.5 years.
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However, no new field now being developed is projected to have daily production in excess of 250,000 barrels. In sharp contrast, the world’s 19 largest “old giant fields” still produce an average over 500,000 barrels per day, in spite of an average age of almost 70 years!
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If most new discoveries are still small fields, this implies a need for an exponential growth in the individual new fields discovered and developed as the future unfolds. If the average new field production size is still about 20,000 barrels per day, this implies the need to discover over 3,000 new fields by 2010. This volume of new fields is over seven times the amount of new fields found over the past ten years.
Approximately 120 giant oilfields in the world produce 100,000 barrels a day or higher. In total, these fields produce in excess of 32 million barrels a day, or 47% of the world’s total supply. Even within this tiny tip of the world’s oilfields, half of these 120 giant fields barely exceed the minimum 100,000 barrel per day production parameter that I have used to define a giant oilfield. The 62 smallest of these “giant fields” account or 12% of the world’s daily oil supply. In contrast, the fourteen largest account for over 20%. The average age of these 14 largest fields is 43.5 years.
...
However, no new field now being developed is projected to have daily production in excess of 250,000 barrels. In sharp contrast, the world’s 19 largest “old giant fields” still produce an average over 500,000 barrels per day, in spite of an average age of almost 70 years!
...
If most new discoveries are still small fields, this implies a need for an exponential growth in the individual new fields discovered and developed as the future unfolds. If the average new field production size is still about 20,000 barrels per day, this implies the need to discover over 3,000 new fields by 2010. This volume of new fields is over seven times the amount of new fields found over the past ten years.
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