Giant fields retain dominance in reserves growth

02/03/2014
Guoping Bai Yan Xu China University of Petroleum Beijing In spite of the increasing importance of shale gas and tight oil in the new century, future oil and gas supply continues to be dominated by conventional petroleum reserves. The International Energy Agency (IEA) has predicted that unconventional oil, which includes bitumen, heavy oil, and tight oil, will contribute only 13% of the global supply and unconventional gas consisting of tight gas, shale gas, and coalbed methane, 26% of the global gas supply by 2035.1 Conventional petroleum supply will come largely from the remaining reserves and reserve growth from both discovered and undiscovered giant fields. The importance of giant fie...
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