Brazil's giant offshore oil discoveries

Flow · Heavy Crude Joined: Nov 05, 2005 Posts: 166

http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=47265

Nov 7, 2005 (today)

Excerpts from the article......

"A key argument of "Peak-Oil" and "Fossil-Fuel" theorists is no new giant oilfield discoveries have been made in recent years."

"The Barracuda and Caratingua proven oil reserves are estimated at 1.229 billion barrels. Together they are expected to produce 773 million barrels of oil by 2025."

>None of this will impress peak-oil or fossil-fuel theorists, who expectedly will argue that the Brazil's offshore oil fields, regardless how large they might be, are doomed to deplete sooner or later. If giant oil fields can be found 50 miles offshore Brazil, how many more giant offshore oil fields remain to be discovered?"

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My favorite line of the whole article "How many more giant offshore oil fields remain to be discovered?" Granted, we will need about 720 billion barrels until 2025 but like they say in the article "How many more giant offshore oil fields remain to be discovered (worldwide)?"

Flow · Heavy Crude Joined: Nov 05, 2005 Posts: 166

As a related side note, of the top 50 countries that produce oil, with regards to the ones that are in decline, they average about 571,000 barrels a day decline (each year) total.

Expanding that out until 2025, we need to come up with about 4.3 billion barrels just to break even from these wells in decline (assuming their decline continues at the rate of 2.5% decline they have demonstrated since 1997).

So this new discovery alone (produce 773 million barrels by 2025) accounts for almost half of the required fuel to make up for the wells in decline.

This of course assumes that no other wells go into decline, but I am stuck on the statement "If giant oil fields can be found 50 miles offshore Brazil, how many more giant offshore oil fields remain to be discovered?" (which also could be asked worldwide).

FoxV

according to ASPO's model for new discoveries, we're due to discover about 10Bbrls (approximately) in new fields every year for a few years yet with about 130B in total still out there

so in answer to your question I guess between now and 2025 there are about 70 of these "Giant" oil fields still to be found

btw for 2003, 2004 we only found half the predicted amount
enjoy
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pstarr

1.229 billion barrels is 17 days of current consumption. whoopee
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Geology_Guy · Heavy Crude Joined: Jul 06, 2004 Posts: 253

The geology is this article is off the wall ! The Oligocene was about 38 million to 23 million years ago. The Miocene was about 23 million to 5 million years ago. Where he gets 24,000 years ago I have no idea. Also he says the rocks are full of "benthic foraminifera" which are micro-fossils of small shelled animals and then he says the rocks contained no animal fossils!

Leanan · News Editor Joined: May 20, 2004 Posts: 4575

It's WND. Hey, at least he admits there were such things as dinosaurs, and that the earth is more than a few thousand years old. Razz

bobcousins

Clouseau2

No one caught the fact that the word "ethanol" was conspicuously absent from the article?

PeakOiler

I just reviewed ASPO's Newsletter #26 which gives the Brasil country assessment. According to ASPO's "Future Discoveries" estimate, Brasil still needs to find 2.6 Gb more deepwater oil.

http://www.peakoil.ie/newsletters

Antimatter

Hegel

Mr. Corsi and his publications are for the birds.
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ivuernis · Tar Sands Joined: Jun 03, 2004 Posts: 20 Location: Ireland

Leanan · News Editor Joined: May 20, 2004 Posts: 4575

He's got another one today. This one's even funnier:

Thunder Horse in the Gulf

Thunder Horse proves that "fossil-fuel theorists" are wrong. Because dinosaurs couldn't have lived that deep underwater. Rolling Eyes

UncoveringTruths · Intermediate Crude Joined: Nov 04, 2004 Posts: 900

When is that dumb ass Jerome Corsi going to quit typing.

peripato · Heavy Crude Joined: May 03, 2005 Posts: 397

The fields referred to in that so-called article were not "just found" recently except perhaps by you and that numbnut Corsi, and are due to peak the day after tomorrow;

"Barracuda was discovered in April 1989. It holds 867 million barrels of oil with 10.7 billion cubic meters of gas. Its production will peak in 2006 at 150,000 boe/d...

Caratinga was discovered in 1994 and holds 362 million barrels of oil and 4 billion cubic meters of gas. The field will start producing in December 2004 with a peak production of 125,000 barrels of oil by 2006."

Trying doing some REAL research next time rather than just quoting the delusional rantings of another "oil is made from chocolate nougat" type whacko. Link