The planet contains 3 billion barrels of "unconventional" oil buried very deep or in the form of heavy oils, indicates a report by the Scottish research firm Wood Mackenzie, published Monday, September 600.
To date, 8% of this unconventional oil is or is in the process of being exploited. Only 15% of these 3 barrels correspond to heavy to extra-heavy oil, the rest being even more difficult to exploit, specifies the benchmark research firm in the field of hydrocarbons. Washington puts forward an estimate of the world's "ultimate" oil reserves at 600 billion barrels. But a group of independent and pessimistic petrogeologists, united within the ASPO, Association for the study of peak oil, expects only 2 billion barrels.
Wood Mackenzie's study points out that the transition to unconventional oils may become necessary faster than what oil industry experts generally claim. Although after 2020, some major conventional oil fields will still see their production grow, these increases will not be enough to offset the decline of the other main fields, says Wood Mackenzie.
ANNOUNCED DECLINE OF CONVENTIONAL OIL
Increasingly relying on unconventional oils requires a major reorganization of the energy industry. Extraction of extra-heavy oils requires large quantities of water, natural gas and solvents: a more expensive, polluting and energy-consuming operation than for conventional oils.
Major western companies already mine bituminous rocks - extra heavy oil, particularly in Canada and Venezuela. But the pace of investment in unconventional oils remains slow. Their place remains marginal. In its 2005 report, the International Energy Agency (IEA) expects production of only 2 million barrels per day (mbd) in 2025. Current consumption is around 85 mbd.
According to Wood Mackenzie, "after 2020, it is not certain that conventional oil will be able to meet the increased demand." The director of economic studies of the IEA, Fatih Birol, predicted in September 2005 in the columns of the World that extractions outside OPEC countries - ie half of world production - will begin to decline "just after 2010".
According to Fatih Birol, "the Earth contains a lot of unconventional oils (...) but it is technically impossible and ecologically unhealthy to extract these oils at a high rate". A previous report by Wood Mackenzie indicated that the average size of new oil fields discovered since 1999 has never been lower since the turn of the XNUMXth century.
http://www.lemonde.fr/web/article/0,1-0 ... 296,0.html
In the future, oil will be more expensive and extraction
Okay nothing new sauuffff
You remember that when the price of raw materials soared, the multinationals tried to open mines and there was a bottleneck.
the tires of the huge mining machines, there were not enough of them and it was necessary to open factories in express.
And well for deep oil it will be in the same style.
But with a specificity and this due directly to the material used.
Some people wonder if the constraints requested are not a little too much, how to say, apart from industrial feasibility.
There are solutions but hey I let you guess the rest.
You remember that when the price of raw materials soared, the multinationals tried to open mines and there was a bottleneck.
the tires of the huge mining machines, there were not enough of them and it was necessary to open factories in express.
And well for deep oil it will be in the same style.
But with a specificity and this due directly to the material used.
Some people wonder if the constraints requested are not a little too much, how to say, apart from industrial feasibility.
There are solutions but hey I let you guess the rest.
0 x
Increasingly relying on unconventional oils requires a major reorganization of the energy industry. Extraction of extra-heavy oils requires large quantities of water, natural gas and solvents: a more expensive, polluting and energy-consuming operation than for conventional oils.
In other words, it is necessary to send more and more CO2 into the atmosphere and pollute the soil and the air even more to extract this petroleum from meeeeerde.
0 x
Only when he has brought down the last tree, the last river contaminated, the last fish caught that man will realize that money is not edible (Indian MOHAWK).
In the same style, an article from Boursorama which shows the advantages that one can derive from cheap oil (yes, if Christophe) 
. Okay, I love you but it's interesting.
http://www.boursorama.com/conseils/deta ... ws=3973896
Cost explosion in the petroleum industry
It is not only the prices of raw materials that are exploding: there is also a high inflation of prospecting costs in mining activities in general and petroleum exploration and production in particular. According to CERA (Cambridge Energy Research Associates ), the latter have increased by 53% over the past two years. They have actually been on an upward trajectory since 2000 (ie the beginning of the large bullish cycle for raw materials) but did not really take off until 2005.
Indeed, the industry suffers from a real shortage of specialized technicians; in addition, the oil sector is struggling to keep up with demand, particularly with regard to drilling and underwater exploration equipment.
Thus, the cost of leasing offshore drilling equipment has increased by more than 300% from one year to the next. And the market should hardly balance before 2009.
And at 23%, the annual inflation of salary costs for project technicians seems almost wise, compared ...
The oil companies are therefore currently caught in a vice: on the one hand, the inflation of costs calls into question the economy of a number of projects and on the other hand, the plunge - admittedly punctual, but still ... - crude oil prices limit their hopes for profitability. ..But, in all cases, this will not harm the appreciation potential of hydrocarbons in the medium-long term ...
. Okay, I love you but it's interesting.
http://www.boursorama.com/conseils/deta ... ws=3973896
Cost explosion in the petroleum industry
It is not only the prices of raw materials that are exploding: there is also a high inflation of prospecting costs in mining activities in general and petroleum exploration and production in particular. According to CERA (Cambridge Energy Research Associates ), the latter have increased by 53% over the past two years. They have actually been on an upward trajectory since 2000 (ie the beginning of the large bullish cycle for raw materials) but did not really take off until 2005.
Indeed, the industry suffers from a real shortage of specialized technicians; in addition, the oil sector is struggling to keep up with demand, particularly with regard to drilling and underwater exploration equipment.
Thus, the cost of leasing offshore drilling equipment has increased by more than 300% from one year to the next. And the market should hardly balance before 2009.
And at 23%, the annual inflation of salary costs for project technicians seems almost wise, compared ...
The oil companies are therefore currently caught in a vice: on the one hand, the inflation of costs calls into question the economy of a number of projects and on the other hand, the plunge - admittedly punctual, but still ... - crude oil prices limit their hopes for profitability. ..But, in all cases, this will not harm the appreciation potential of hydrocarbons in the medium-long term ...
0 x
The oil companies are therefore currently caught in a vice: on the one hand, cost inflation calls into question the economy of many projects and on the other hand, the collapse - admittedly ad hoc, but all the same ... - crude oil prices limit their hopes for profitability ... But, in all cases, this will not harm the appreciation potential of hydrocarbons in the medium-long term ...
Sniff, snifff .... they are good to complain about !! today the price of a barrel has risen above 60 euros a barrel, they will be able to blow
0 x
Only when he has brought down the last tree, the last river contaminated, the last fish caught that man will realize that money is not edible (Indian MOHAWK).
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