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Book Chapter

Results of Resource Assessment of Undiscovered Conventional Petroleum

Published:
January 01, 2005

Abstract

Volumes (statistical mean estimates) of undiscovered conventional oil, natural gas, and NGL (exclusive of the U.S.) as assessed in USGS (2000) are: Â∈¢ 649 billion bbl of oil (Figure 9) Â∈¢ 4669 tcf of natural gas (778 billion BOE) (Figure 10) Â∈¢ 207 billion bbl of natural gas liquids (NGL) (Figure 11) Table 1 summarizes the estimates of the ranges of volumes of undiscovered conventional oil, natural gas, and NGL for the world both exclusive and inclusive of U.S. petroleum resources. Lognormal probability distributions for the three commodities, exclusive of the U.S., are shown in Figures 9, 10, and 11. These estimates demonstrate that a significant volume of undiscovered petroleum is yet to be found in the world. The estimates of undiscovered resources of individual assessment units were aggregated into TPS, provinces, regions, and finally the world. Perfect positive dependency among estimates was assumed at the AU, TPS, province, country, and region levels. In aggregating the eight region-level sets of estimates to the world level, a positive dependency of 0.5 was assumed. Dependencies assumed for aggregations are described in USGS (2000) by Charpentier et al. (2000).

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Contents

AAPG Memoir

Global Resource Estimates from Total Petroleum Systems

Thomas S. Ahlbrandt
Thomas S. Ahlbrandt
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Ronald R. Charpentier
Ronald R. Charpentier
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T. R. Klett
T. R. Klett
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James W. Schmoker
James W. Schmoker
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Christopher J. Schenk
Christopher J. Schenk
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Gregory F. Ulmishek
Gregory F. Ulmishek
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American Association of Petroleum Geologists
Volume
86
ISBN electronic:
9781629810430
Publication date:
January 01, 2005

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