Date: Fri, 24 May 2013 06:47:13 +0200
- EnergyBulletin.net Exploration News
Updating world deepwater oil & gas discovery
Deepwater oil production will help reduce the decline in world oil production from aging fields. The IEA claims that four Saudi Arabias need to be discovered up to 2030 to replace the present decline in production (about 5 %/a). The deepwater ultimate is likely to represent less than half of Saudi Arabia’s oil ultimate. It is not enough!