Would you like to start a free subscription?
Remember me | Forgot password
For full content view: Log in Now!
The commonsense effect of high oil prices is reflected in the numbers in these tables. But remember, this is during 2006−2007, when prices were high (~$60−$80), but not the lofty, well-over-$100 prices of this year.
Reserves should have increased in 2005−2007, even if only due to higher prices. Generally speaking, the higher the price, the more that can be spent increasing recovery. However, it is interesting just how little effect high prices have had on “official” proved reserves. Some have not changed for years. There are several reasons for this.
One is that, unless the company is publicly traded like the IOCs, there is little need to spend the time it takes to continually audit the replacement of reserves. In addition to a lack of need, in most cases, NOCs simply do not have the dynamic computer models and personnel needed to do the job.
This area of the site is restricted.
In order to gain access, please either Log
In, or subscribe to World Oil.
Two options are available to you for creating an account.
1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.
Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.
2. Purchase a subscription to World Oil magazine and gain immediate
and complete access to World Oil Online. As a Total Access subscriber
you will have access to all areas of the site available to registered users and
free subscribers as well as having access to such premium content areas as:
Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.
If you are already a paid subscriber and do not have access, please email CustomerService@worldoil.com.
World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.
New Delhi - January 11-14
Muscat - January 26-29
Bogota - January 28-29
All material subject to strictly enforced copyright laws.
© 2014 World Oil. © 2014 Gulf Publishing Company.