--> ABSTRACT: Assessment of Ultimate World Oil Recovery, by Gary G. Engels; #91030 (2010)

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Assessment of Ultimate World Oil Recovery

Gary G. Engels

A technique developed by Mobil Oil Corporation was used to determine the current estimate of the world's undiscovered, recoverable conventional oil. The method of assessment includes an economic assessment, and is determined by basin and play analysis. Results compare to historic values for the entire world along with cumulative production and reserves.

A more detailed breakdown of world values for undiscovered conventional oil, cumulative production, and total discovered oil is given by continent and, where pertinent, by country. In terms of undiscovered oil, a further estimate is made for accessible oil, which is oil located such that current technology may be used.

Other oil sources, such as EOR, tar deposits, and oil shales, are reviewed and an estimate for the contribution each will make to ultimate world oil recovery is given. These data are from published reports.

The final analysis details the ultimate recovery of each continent or country in terms of conventional oil and oil derived from tar deposits, EOR, and oil shales. Economics is not a consideration in this analysis. The world's estimated ultimate oil recovery, less cumulative production, is divided by current annual consumption to give a time period for oil availability.

AAPG Search and Discovery Article #91030©1988 AAPG Annual Convention, Houston, Texas, 20-23 March 1988.