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An evaluation of the U.S. Geological Survey World Petroleum Assessment 2000

American Association of Petroleum Geologists Bulletin

By:
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DOI: 10.1306/04060504105

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Abstract

This study compares the additions to conventional crude oil and natural gas reserves as reported from January 1996 to December 2003 with the estimated undiscovered and reserve-growth volumes assessed in the U.S. Geological Survey World Petroleum Assessment 2000, which used data current through 1995. Approximately 28% of the estimated additions to oil reserves by reserve growth and approximately 11% of the estimated undiscovered oil volumes were realized in the 8 yr since the assessment (27% of the time frame for the assessment). Slightly more than half of the estimated additions to gas reserves by reserve growth and approximately 10% of the estimated undiscovered gas volumes were realized. Between 1995 and 2003, growth of oil reserves in previously discovered fields exceeded new-field discoveries as a source of global additions to reserves of conventional oil by a ratio of 3:1. The greatest amount of reserve growth for crude oil occurred in the Middle East and North Africa, whereas the greatest contribution from new-field discoveries occurred in sub-Saharan Africa. The greatest amount of reserve growth for natural gas occurred in the Middle East and North Africa, whereas the greatest contribution from new-field discoveries occurred in the Asia Pacific region. On an energy-equivalent basis, volumes of new gas-field discoveries exceeded new oil-field discoveries. Copyright ?? 2005. The American Association of Petroleum Geologists. All rights reserved.

Additional Publication Details

Publication type:
Article
Publication Subtype:
Journal Article
Title:
An evaluation of the U.S. Geological Survey World Petroleum Assessment 2000
Series title:
American Association of Petroleum Geologists Bulletin
DOI:
10.1306/04060504105
Volume
89
Issue:
8
Year Published:
2005
Language:
English
Larger Work Type:
Article
Larger Work Subtype:
Journal Article
Larger Work Title:
American Association of Petroleum Geologists Bulletin
First page:
1033
Last page:
1042
Number of Pages:
10