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GLOBAL OFFSHORE OIL-2: Growth expected in global offshore crude oil supply

03/12/2007
This is the second of two parts on the outlook for global offshore oil discoveries, production, and reserves.The reserve base is the sum of cumulative production and remaining reserves; these two combined with undiscovered potential (or yet-to-find) give the ultimately recoverable reserves (URR).Estimates for the first two may be obtained from IHS Inc. IHS uses a systematic, bottom-up approach compilation of known technically recoverable estimates (proved and probable) for discoveries, but these numbers are also subject to uncertainty.Estimates for undiscovered oil (crude and NGL) in offshore provinces are only available from the US Geological Survey’s 2000 world petroleum assessmen...
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