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Size distribution of Middle East fields and reserves growth issues draw focus
09/10/2007
The Middle East has been estimated to contain approximately 65% of the world’s oil.1-3 Ultimate recoverable “reserves” growth through time has been observed both in the aggregate and for individual oil fields in many parts of the world.One common average “multiplier factor” for ultimate field recoverable volume as a function of “earliest known reserves estimate” is 7.1.The 2005 book “Twilight in the Desert,” which exposed questionable oil reserves figures in the Middle East, created a great honking and flapping of wings not only among oil companies and economists but also among political leaders and ordinary citizens.In the June 2, 200...
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