SEG: Saleri says oil, gas key in new energy era

HOUSTON — The world has entered a new energy era in which overall energy efficiency and oil recovery efficiency will improve, environmental harmony will grow, and oil, gas, and coal will continue to dominate.

That is the view of Nansen Saleri, founder, president, and chief executive officer of Quantum Reservoir Impact LLC, Houston, and a former Saudi Aramco reservoir management chief.

When considering conventional and unconventional resources, 150-250 years of liquids production remain at output levels of 50-100 million b/d, Saleri said, relying on National Petroleum Council 2007 estimates.

Global oil recovery factors long estimated at around 35% have begun growing toward 50-60% and will ultimately reach 80%, he forecast in a presentation to the Society of Exploration Geophysicists annual meeting in Houston.

The energy world is filled with unpredictability over the outcomes of recession, price volatility, geopolitics, resource nationalism, renewables, global warming, and most of all