DOE sees large remaining US oil resource

03/13/2006
The US holds as much as 430 billion bbl of technically recoverable oil in a resource in place of 1.124 trillion bbl, according to the Department of Energy.The volumes, reported in an update to a study released last month of several resource assessments, include speculative categories such as undiscovered oil, reserve growth, and a “residual oil zone.”DOE’s study and update contain identical estimates for remaining oil in place.The total in this category includes 293 billion bbl of light oil and 81 billion bbl of heavy oil. DOE estimates undiscovered oil in place at 360 billion bbl and says 210 billion bbl might be added to oil in place through “reserve growth,&rdqu...
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