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Resources to Reserves- Oil and Gas Technologies for the Energy Markets of the Future | |
| 2005 | ||
| Executive Summary | Size: 8138 KB | |
| Table of Contents | ISBN: 2-64-10947-1 | |
| Related Press Release | No. of Pages: 130 | |
| Download the PDF | Type of Document: Study (Book) | |
Oil and gas will continue to dominate world energy supply until at least 2030 if current energy policies remain in place and do not change. IEA projects that oil demand will grow by more than 50 % between 2002 and 2030 and that gas demand will almost double. But where will all this oil and gas come from? Will we see a peak in oil production? In principle, there is no shortage of these hydrocarbons in the ground. But quenching the world’s thirst for them will call for major technological progress and investment. Even if OPEC Middle-East countries can meet most of the additional supplies needed, much more advanced technology must be mobilised: - to expand recovery in known reservoirs (a 5% increase in worldwide recovery would bring more oil than Saudi Arabia’s reserves); - to access new reservoirs in deep offshore or remote regions (where more than half of undiscovered oil is likely to be found); - to kick-start use of “non-conventional” deposits (Canadian oil sands alone contain more oil than all the world’s current reserves). This publication identifies challenges and points to key technologies being investigated in the exploration, production and transportation sectors. It also presents estimates of the oil prices at which various sorts of resources become economical. The aim of this book is to inform discussion on how to ensure that adequate supplies can be tapped in the future |
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