Register

Peak Oil is You


Donate Bitcoins ;-) or Paypal :-)


Page added on November 17, 2020

Bookmark and Share

How Much Oil and Gas Has Been Found in 2020?

Geology

Global conventional oil and gas discoveries already exceed eight billion barrels of oil equivalent (boe) and are projected to settle at around ten billion boe by the end of the year, according to a new Rystad Energy analysis.

About 3.75 billion boe, or 46 percent of total discovered volumes, are gas while liquid volumes are estimated at 4.31 billion boe, Rystad Energy highlights. Yet-uncounted resources in finds like Sakarya in Turkey point to additional upside, according to the independent energy intelligence company.

Rystad Energy noted that 73 new discoveries have been announced this year through October and pointed out that these are evenly split between land and sea with 36 onshore and 37 offshore. Russia leads in terms of discovery volume, with 1.51 billion boe, while Suriname comes second with 1.39 billion boe and the UAE follows third with 1.1 billion boe, Rystad Energy revealed.

Global conventional discoveries came in at 15.6 billion boe in 2019, 9.5 billion boe in 2018, 11.2 billion boe in 2017, 7.7 billion boe in 2016, 20.3 billion boe in 2015 and 17.1 billion boe in 2014, according to Rystad Energy.

“Global oil and gas operators will chase plenty of additional volumes in wildcats planned for the final two months of 2020, although some may not be completed until early 2021 and will therefore add to next year’s tally,” Palzor Shenga, a senior upstream analyst at Rystad Energy, said in a company statement.

Rystad Energy predicts that, in the coming years, annual discovered volumes are likely to settle at a new normal of around 10 billion boe per year. The company said it sees two main reasons for this trend.

“First, oil and gas players are streamlining portfolios and exploration strategies and will scrutinize prospects more closely than before, thereby reducing the number of wells that will be drilled,” Rystad Energy said in a statement posted on its website.

“Second, companies will be less willing to drill high-risk wells in environmentally sensitive frontier areas, both for financial and environmental reasons,” the company added in the statement.

RIGZONE



24 Comments on "How Much Oil and Gas Has Been Found in 2020?"

  1. Abraham van Helsing on Wed, 18th Nov 2020 2:32 am 

    Wow, respect!

    https://www.dailymail.co.uk/news/article-8959477/Boris-Johnson-announce-2030-ban-sales-diesel-electric-cars-tomorrow.html

    “‘This means road pricing’: IFS warns PM’s decision to ban petrol and diesel cars by 2030 as part of green push could deal a £40BILLION hit to tax revenues – as fears are raised that driving could become a ‘privilege for the wealthy'”

    Good for Boris!

  2. Antius on Wed, 18th Nov 2020 2:31 pm 

    Is this the real reason that Boris Johnson wants to ban petrol and diesel cars?
    http://energyskeptic.com/2020/climate-change-dominates-news-coverage-at-expense-of-more-important-existential-issues/

    ‘Global peak oil production may have already happened in October of 2018 (Will covid-19 delay peak oil? Table 1). It is likely the decline rate will be 6%, increasing exponentially by +0.015% a year (see post “Giant oil field decline rates and peak oil”). So, after 16 years remaining oil production will be just 10% of what it was at the peak.’

    Sounds a bit apocalyptic, but could be true (or even close to true)?

    If so, the most sensible short term use for those renewable energy projects would be biomass upgrading. Wind and solar plants could provide heat and hydrogen needed to convert biomass into charcoal, liquid fuels and gas. The charcoal could have uses is steel production and any excess could be converted to liquid fuels using the Fischer Tropsch process using supplemental renewable hydrogen; the gas would be burned in gas turbines and the liquids are directly useful as liquid fuels.
    https://en.m.wikipedia.org/wiki/Biomass_to_liquid

    We could build wind/solar assisted biomass plants all over the world, each tailored to different feedstock. The gas could be sold locally, the liquid fuels and charcoal shipped back to Europe.

  3. Antius on Wed, 18th Nov 2020 2:39 pm 

    Ammonia can be used to blow biomass into fine fibres that is suitable for flash pyrolysis.
    https://www.sciencedirect.com/topics/chemistry/biomass-pyrolysis

    ‘An excellent review of the effects of different conditions has been published by A.V. Bridgwater: Renewable fuels and chemicals by thermal processing of biomass, Chem. Eng. J. 91 (2003) 87–102. In this, he discusses in particular the operation of the fast pyrolysis process that produces—at several seconds residence time and at a temperature of about 500°C—a mixture of 75% liquids, 12% char, and 13% gas. The liquid is a relatively unstable microemulsion that contains about 25% water and is made up of a mixture of oxygenates (particularly acetic acid), a solid char and alkali metals originating from the ash present.’

    Excellent. The liquid produced from flash pyrolysis appears to be a mixture of water, dissolved acetic acid and other organic compounds, with some discussion of insoluble oils. The liquid could be fractionated to separate its components, which could then be blended into liquid fuels.

  4. Be Best on Wed, 18th Nov 2020 3:34 pm 

    Latest news Biden 306 fat loser 232 popular vote Biden ahead nearly 6 million. The fat fascist got has ass truly kicked hard.

  5. makati1 on Wed, 18th Nov 2020 3:50 pm 

    It ain’t over until the fat lady sings. When the guy puts his hand on the Bible and takes the oath…THEN it is decided.

    The courts have a lot to say this time, I think. Either way, the US is going down.

  6. makati1 on Wed, 18th Nov 2020 3:55 pm 

    BTW: Fascism is the US way now. The guy who sleeps in the White House has no say over what the US does, in any really important way. The big corporations run the country. Especially the MIC.

    Amerika is number one in corruption so why not have a super corrupt family in the White House? Biden wins that one hands down, no contest. Wait until his bitch VP takes the country into socialism big time. Or even…communism.

    LOL

  7. Antius on Wed, 18th Nov 2020 4:09 pm 

    “Latest news Biden 306 fat loser 232 popular vote Biden ahead nearly 6 million. The fat fascist got has ass truly kicked hard.”

    Oh yeah. I always believe everything the US Kosher media tell me. Especially when I know that the (apparently) winning candidate is such a decent and honest guy, who goes out of his way to ensure fair play and bring freedom and democracy to the world.

  8. makati1 on Wed, 18th Nov 2020 4:35 pm 

    Great sarcasm, Antius! ^_^

  9. Antius on Wed, 18th Nov 2020 5:26 pm 

    Can we deliver millions of tonnes of freight across entire continents, without fossil fuels? I believe we can.

    Following on from Alice Friedmann’s warning that global oil supply has already peaked and may decline at 6% per year. I decided to look at options for bulk goods transport systems that could be established relatively quickly and cheaply, without need for new technology. This one fascinates me, because it allows large amounts of freight to be transported very cheaply, using direct mechanical wind power, without need for energy storage. The idea is to transport freight in sealed neutrally buoyant capsules, ~1m in diameter, through concrete water pipes at about 3m/s. The water will be sea water, to prevent freezing.

    1. The video below demonstrates transportation of various heavier than water cylinders through hydraulic pipes. This is a less than optimum solution, because the flowing water must generate hydraulic lift, which results in substantial drag and pressure drop. My calculations indicate that smooth hydraulic capsules, floating through smooth and straight concrete pipes at 3m/s, should deliver freight using about 1/5th the energy cost of rail freight ( per tonne-km).
    https://m.youtube.com/watch?v=RPIAaYWrMok

    2. I am inspired by this article from Kris DeDecker. Smaller land-based wind turbines are less efficient tha n multi-MW units built offshore. However, provided that rotor diameter is no greater than 10m, blades can be made from wood, with much reduced embodied energy compared to polymer blades. Also for turbines this small, towers can be made using brick or stone by local builders. This reduces embodied energy still further.
    https://www.lowtechmagazine.com/2019/06/wooden-wind-turbines.html

    3. Wind turbines can be used to provide direct mechanical power, avoiding the need for electrical generators and dramatically simplifying the device, making it easy to build. The only materials needed are wood, stone, carbon steel, some plastics and concrete. Wind Mills were used in this way for centuries before they were used to generate electricity. In particular, Wind Mills were used to pump water. When used in this way, very few moving parts were required. My idea is to use Wind Mills with shafts directly coupled to hydraulic water pumps, to pump the water needed to propel the capsules through the pipes. Most likely, this would involve centrifugal pumps, which would power jet pumps within the pipe. Interestingly, flow resistance in a pipe is proportional to square of flow velocity. If wind power drops by three-quarters, flow rate is 50%, and even if wind power drops by 90%, flow rate drops to 30%. Changes in wind speed may result in some delays, but energy storage should not be needed.
    https://www.lowtechmagazine.com/2009/10/history-of-industrial-windmills.html

    4. Pipes would be built between exchange ponds on the outskirts of each large town or city. Multiple pipes to different destinations would enter each pond. So a capsule entering the network at any point, could be sent to any town, city or industrial area within the nation. For transport from the urban area to the surrounding areas, the capsules would be loaded onto trailers and transported to their destination using short range battery, pneumatic or hydrogen powered vehicles. These should only need range of 30km or less, so they would be easy to build. Hydrogen gas bag vehicles would suffice over ranges as short as this. So would horse and cart for that matter.

    So it would appear to be possible to build working freight networks for individual nations of even entire continents, powered directly by the wind with no need for energy storage or even for electrical power. No special materials are needed beyond concrete, wood, stone and some steel and plastics. The networks would be more energy efficient than rail, albeit slower and are simple enough that they could be built using local labour. Not a drop of fossil fuel, no hydrogen or even electric motors.

  10. makati1 on Wed, 18th Nov 2020 6:00 pm 

    So, Antius, how many million mules would it take to move the billions of tons of “stuff” across Amerika every year? 10,000,000,000? Borax used a twenty mule team to move their ores. More? And what are they going to eat?

    And, if you plan to use trucks, who is going to pay for the change, charging stations, etc? You? NOT me for sure!

    And how many decades do you think it will take to build out this fantasy future of yours? Three? Four? More?

    You renewable techie wet dreamers need a dose of reality! LMAO!

  11. Be Best on Wed, 18th Nov 2020 6:06 pm 

    Mak I think you ment to say it ain’t over till the fat man sings.or tweets that more his style of dictating

  12. Be Best on Wed, 18th Nov 2020 6:22 pm 

    BTW, Mak, I am fat and short

  13. makati1 on Wed, 18th Nov 2020 9:54 pm 

    Fat lady is what I meant. Have you never been to an opera? LOL

    I prefer the casino owner to the lecherous old fart and his bitch. But neither will affect me and my world here, so….

  14. dratrepus tak the list of convict-19 promoters and hoaxers who flaunt the rule keep increasing on Thu, 19th Nov 2020 12:36 am 

    but first we still need to amputate whitey supertard atheistic scientific supremacist thudnerf00t. when this whitey supertard went on self imposed quarantine during first week of convict-19 in march i said it smells and demanded immediate amputation

    it would be nice to decorate those utility poles with convict-19 hoaxers, just in time to celebrate (((supremetard))) birthday

    now the list, mostly flaunting convict-19 rules for having no face diapers:

    newsome
    whitemere husband
    fauci
    feinstein
    pelosi
    chris cuomo
    dropout-19 (never with face diaper)

  15. Abraham van Helsing on Thu, 19th Nov 2020 3:28 am 

    Thanks Antius, for the pointer to biomass pyrolysis. Never really paid much attention to biomass, despite the fact that my country has massive amounts of it (9-14 ton/ha annually). 1 ton is roughly 1 MWh thermal energy. With solar panels you harvest much, much more electricity, but you will have inevitably biomass anyway from food production.

    Picture/thousand words:

    https://deepresource.wordpress.com/2020/11/19/biomass-pyrolysis/

    Biomass pyrolysis can contribute to help fill the gap of the missing renewable energy link, which is seasonal storage. This is another source of income for third world countries near the equator, who can harvest biomass, “thicken” the biomass on the spot with pyrolysis and transport it all over the world, provided of course, rain forest isn’t chopped for this kind of production. The least destructive are pv solar farms, distributed all over the world. You merely need an area like Bulgaria or Kentucky to satisfy all current primary energy needs.

  16. Antius on Thu, 19th Nov 2020 4:09 am 

    “So, Antius, how many million mules would it take to move the billions of tons of “stuff” across Amerika every year? 10,000,000,000? Borax used a twenty mule team to move their ores. More? And what are they going to eat?”

    None, hopefully. My idea is to pump floating capsules down concrete pipes. The propulsive power is direct wind power, which is very technically simple.

    But this mode of transport can only really be used for transportation between nodes, each of which will serve a surrounding area. So maybe some mules or other short range transport (could be battery, hydrogen, compressed air, etc) between the node and surrounding area. It is technically not difficult to build vehicles with a range of 30km. Lots of technologies that will do that.

  17. Cloggie on Thu, 19th Nov 2020 4:10 am 

    Lazard study: solar and wind are the cheapest way to generate electricity (if available):

    https://cleantechnica.com/files/2020/11/Wind-Energy-Solar-Energy-Coal-Natural-Gas-LCOE.png

  18. makati1 on Thu, 19th Nov 2020 4:24 am 

    Ant, unless you are going to build a factory for everything you need, at thousands of “nodes” you are going to need a lot of mules! LOL

  19. Antius on Thu, 19th Nov 2020 5:23 am 

    “Thanks Antius, for the pointer to biomass pyrolysis. Never really paid much attention to biomass, despite the fact that my country has massive amounts of it (9-14 ton/ha annually).”

    The things I find most interesting about biomass are the facts that: (1) It can be grown anywhere where water exists (sometimes even salt water), there are many different options for what what is grown depending on the location; and (2) We can use wind / solar electric as the energy source to upgrade it into liquids that we use. A solar plant can be built very close to the refinery, so transmission costs are zero.

    The flash pyrolysis process can be accomplished by dropping finely ground biomass through a long steel tube with a hopper at the top. The tube is heated to several hundred Celsius by a heating element coiled around it. The biomass undergoes pyrolysis in seconds as it falls and the particles are heated by thermal radiation from the walls of the tube.

    The carbon rich char at the bottom can then be converted to methanol by partially oxidising the char to CO and reacting it with hydrogen from an electrolysis unit. All parts of the refinery are tied together, so that waste heat from some parts are inputs to others.

    Ideally, we would grow biomass like miscanthus in circular fields, with a power point on a pole in the middle. We would harvest the biomass using machines that are direct electric powered, I.e. drawing power directly from the solar plant PV panels as it is being generated, without storage. All operations can get made to work that way. Transportation of the biomass can also be accomplished using direct electric, using divided two-phase cables hanging from poles over roads.

  20. dratrepus tak the list of convict-19 promoters and hoaxers who flaunt the rule keep increasing on Thu, 19th Nov 2020 8:16 am 

    but first we still need to amputate whitey supertard atheistic scientific supremacist thudnerf00t. when this whitey supertard went on self imposed quarantine during first week of convict-19 in march i said it smells and demanded immediate amputation

    it would be nice to decorate those utility poles with convict-19 hoaxers, just in time to celebrate (((supremetard))) birthday

    now the list, mostly flaunting convict-19 rules for having no face diapers:

    newsome
    whitemere husband
    fauci
    feinstein
    pelosi
    chris cuomo
    dropout-19 (never with face diaper)

  21. dratrepus tak happy birthday (((supremetard))) hope they wont cancel your birthday on Thu, 19th Nov 2020 8:18 am 

    if you think the real dratrepus tak is not croaked from muzz-19 which contains corpious amount of semen from dropout-19 you’re mistaken

  22. zero juan on Thu, 19th Nov 2020 10:55 am 

    Ppeee, who or what is a dratrepus tak, lunatic????

    dratrepus tak happy birthday (((supremetard))) hope they wont cancel your birthday said if you think the real dratrepus tak is not croaked…

    dratrepus tak the list of convict-19 promoters and hoaxers who flaunt the rule keep increasing said but first we still need to amputate whitey superta…

    dratrepus tak people are getting high IQ because theyre nourished by muzzie coq milk said it’s an uphill battle for me being a tard an…

    Get HaPpY said OK burn it and see the world get hotter..

  23. The Board on Thu, 19th Nov 2020 11:43 am 

    A sock is a piece of clothing worn on the feet and often covering the ankle or some part of the calf. Some type of shoe or boot is typically worn over socks. In ancient times, socks were made from leather or matted animal hair. In the late 16th century, machine-knit socks were first produced. Until 1800 both hand knitting and machine knitting were used to produce socks, but after 1800, machine knitting became the predominant method.One of the roles of socks is absorbing perspiration. As the foot is among the heaviest producers of sweat in the body, it can produce over 0.25 US pints (0.12 l) of perspiration per day;[1] socks help to absorb this sweat and draw it to areas where air can evaporate the perspiration. In cold environments, socks made from cotton or wool helps warm up cold foot which in turn, helps decrease the risk of getting frostbite. Thin socks are most commonly worn in the summer months to keep feet cool. Light colored socks are typically worn with sports shoes and dark colored socks with dress shoes (often black or navy blue dress socks). In addition, dark colored socks absorbs heat which in turn helps keep the foot warm while light colored socks reflects heat which in turn helps the feet stay cool.

    Also
    Davy the Missouri lunatic stalker

  24. zero juan on Thu, 19th Nov 2020 12:28 pm 

    LMFAO, PPee Juan is whining. Is the troll trolling causing you pain, lunatic! What a fucking hypocrite whining about socks and ID theft. Mission accomplished.

    The Board said A sock is a piece of clothing worn on the feet and…

Leave a Reply

Your email address will not be published. Required fields are marked *