What's new in exploration ///

Nansen Saleri recently published an opinion piece in the Wall Street Journal called “The World Has Plenty of Oil” in which he disputed Matt Simmons and the “neo-peak-oil club’s” assertion that the world is running out of oil. Saleri believes that the peak oil argument is based on the outdated assumption that oil recovery will not exceed more than 30-35% as a global average. Horizontal drilling and modern extraction techniques are, according to Saleri, producing a sea change in recovery growth that may extend the onset of peak oil production until the middle of this century or longer. Saudi Aramco has shown that recoveries of 60-70% are entirely possible through Maximum Reservoir Contact (MRC) drilling in several of its fields, including Haradh, Shaybah and Abqaiq. MRC wells use horizontal, multi-lateral completions to maximize reservoir connectivity and drainage with as much as 7.5 mi of reservoir contact in each well.

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