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Exploration maturity key to ranking search areas

Oil and Gas Journal

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Abstract

The study area of US Geological Survey Circular 1288, the world outside the US and Canada, was partitioned into 44 countries and country groups. Map figures such as Fig. 2 and graphs similar to Figs. 3 and 4 provide a visual summary of maturity of oil and gas exploration. From 1992 through 2001, exploration data show that in the study area the delineated prospective area expanded at a rate of about 50,000 sq miles/year, while the explored area grew at a rate of 11,000 sq miles/year. The delineated prospective area established by 1970 accounts for less than 40% of total delineated prospective area but contains 75% of the oil discovered to date in the study area. From 1991 through 2000, offshore discoveries accounted for 59% of the oil and 77% of the gas discovered in the study area.

Additional Publication Details

Publication type:
Article
Publication Subtype:
Journal Article
Title:
Exploration maturity key to ranking search areas
Series title:
Oil and Gas Journal
Volume
106
Issue:
11
Year Published:
2008
Language:
English
Larger Work Type:
Article
Larger Work Subtype:
Journal Article
Larger Work Title:
Oil and Gas Journal