Taskforce_Unity wrote:I think there has been some misinterpretation here. The Burgan field has been partially "mothballed" the last few years to increase the tremendous amoun of pressure the field has. 2004 production was 1.35 mb/d.
The KOC was aiming for an increase to 2 mb/d production within 5+ years due to technology and stuff. This production could then be held for a longer time. But now it appears as if they were too optimistic and only 1.7 mb/d can be attained.
So this Burgan is declining stuff is nonsense i think. Yes the oil is starting to deplete. Yes the oil field will probably stop producing 20 to 30 years from now. But it's not like that is tomorrow.
If Burgan peaked already and has been running 60 years I would think 20 more years of production or more is economically possible, but with ever more declines every year from now till the end of economic production. What was Burgan production in 2000, 2001? If it can only produce 1.35 today and it produced more in 2000-2001 it sure looks like decline and it sure sounds like decline. Saying they are 'resting' the field at a time when world oil prices are at an all time high? That does not sound reasonable unless something happenned damaging the field in the last 5 years and they were evaluating and compensating.