Conventional global oil reserves may amount to 4 trillion bbl excluding tar sands, twice the size generally thought. Surface seepage rates are far too large to be supported under equilibrium conditions by the approximate 2 trillion bbl of global oil reserves predicted by analog models. Richard G. Miller of BP Exploration Operating Co. Ltd., London, advances the ideas in an article published in the April 1992 issue of the American Association of Petroleum Geologists Bulletin. Implications of a global oil system concept to exploration are that 50% of all economic oil was created within the last 29 million years and almos...

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