Environmental Engineering Reference
In-Depth Information
80
60
Arctic
EOR
Oil
Shales
40
Deepwater
Heavy Oil
Bitumen
Other
Conv. Oil
20
Already
Produced
Super Deep
OPEC
ME
0
0
1000
2000
3000
4000
5000
6000
Available Oil in Billion Barrels
Availability of oil from various sources and their prices.
The range of prices and amounts available for various oil sources
including estimates of technological progress in oil extraction.
(Source: Resources to Reserves, Oil and Gas Technologies for the Energy
Markets of the Future © OECD/IEA,
fig. 9.1
)
They are probably about
dollars.
Everything up to and including enhanced oil recovery
(EOR) is conventional oil. To put the reserves into per-
spective, at present consumption rates the world uses
roughly
% higher in
billion barrels per year now, has already con-
sumed about a trillion barrels, and with the
% per year
rate of increase will consume the next trillion barrels in
less than
.
years. It is startling to realize that the next
years are expected to use as much oil as the entire
world production up to now.
Middle Eastern OPEC oil is the least costly to extract,
and there is estimated to be more than another trillion
barrels available. Other conventional oil is that coming
from the rest of the world
is reserves, and there is nearly
another trillion barrels that are expected to be available.
Deepwater and Super Deep are what is thought to be
'
