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Published:
January 01, 2005

Abstract

Therefore, the grown endowment of recoverable oil is estimated in the USGS (2000) at about 3 trillion bbl of oil (Table 1; Figure 107). The grown natural gas endowment is estimated at about 2.6 trillion BOE (Table 1; Figure 107). Oil reserves as of 12/2001 are 1.1 trillion bbl of oil; world consumption is about 0.028 trillion bbl of oil per year. Natural gas reserves are about 0.8 trillion BOE; world consumption is about 0.014 trillion BOE. Without any additional discoveries of oil, natural gas, or natural gas liquids, there are about 2 trillion BOE of proved petroleum reserves. Of the oil and natural gas grown endowment of about 5.6 trillion BOE, the world has consumed about 1 trillion BOE, or 17% leaving about 83% of the grown endowment to be found and/or utilized (Figures 12, 13, 107; 1 trillion bbl of oil = 1000 billion bbl of oil, 1 trillion BOE = 1000 billion BOE).

The potential additions to reserves from reserve growth are estimated to be nearly as large as the estimated undiscovered resource volumes. The additional remaining reserves and the estimates for reserve growth from these known fields imply that 76% of the world’s grown conventional oil endowment (Figures 12, 107) and 66.3% of the world’s conventional grown natural gas endowment have already been discovered in the areas assessed (Figures 13, 107). For these areas, 23.5% of the world’s total conventional grown oil endowment and 11.4%

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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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