Don’t worry, just a little bump - $70 is just around the corner. Short traders just keep making those margin calls, mortgage the house if you have to. Fortunes await you! PO is for pansies and doomers. At $70 short some more ..... it is going back to $22 .... the world is awash with oil ........ reality has nothing to do with it, its all in those charts!!!!!!!!!!
Posted: Sun Feb 06, 2005 2:34 pm Post subject: The Soft Touch - Saudi Aramco
Saudi Aramco is obviously on the PR offensive regarding its reserves. The following is a copy from a full 2 page glossy advert in a recent copy of Offshore Engineer.
QUOTE
The soft touch
When some people drive cars, they put the pedal to the metal. That means they jam the gas pedal to the floor, spin the wheels in a wailing scream of rubber and black smoke, and take off like a rocket. With the pedal on the metal, vehicles may go very fast. But they also tend to crash.
It’s the same with oil reservoirs.
Some oil companies try to suck their reservoirs dry as fast as they can to maximize quick profits and pacify shareholders. But, bullied reservoirs collapse young, often leaving much of their riches forever unreachable.
Other companies, like Saudi Aramco, take reservoir management slow and easy, believing that the gentle approach, in the long term, is far more protective of reservoirs – and ultimately far more productive. The company follows a self-imposed speed limit designed to coax the maximum amount of oil from its enormous deposits, which make up more than a quarter of the worlds proven reserves.
This soft touch policy is what make Saudi Aramco confident that, if need be, it can raise its daily oil output to 10 million barrels per day. Or 12 million. Or even 15 million. And keep it up for at least 50 years. And that its reservoirs will reliably pump far more oil proportionately than those of oil companies with short-term vision and reservoirs pounding strategies.
Saudi Aramco has always taken a very long view. And, as such, it is committed to optimizing the production of its reservoirs not over years, but over multiple decades. All it takes is good science, cutting edge technology, quiet patience – and a soft touch.
Saudi Aramco
Energy to the World.
UNQUOTE
Is this Saudi trying to dampen down the growing voice of Peak Oil?
Joined: Jun 18, 2004 Posts: 1037 Location: 28° N 81° W
Posted: Sun Feb 06, 2005 2:37 pm Post subject:
Just remember that, the more things like that you see, the more worried you should get. _________________ American by birth, Muslim by choice, Southern by the grace of God!
Saudi Aramco has always taken a very long view. And, as such, it is committed to optimizing the production of its reservoirs not over years, but over multiple decades. All it takes is good science, cutting edge technology, quiet patience – and a soft touch.
Should read
Saudi Aramco has always taken the piss and as such anyone who believes anything we say should be committed not just for years but for multiple decades. All it takes is an asylum, a straight jacket and some gullible fool who is a soft touch. _________________ www.askaboutenergy.com
Joined: Oct 12, 2004 Posts: 1647 Location: Davis, California
Posted: Sun Feb 06, 2005 4:50 pm Post subject:
Saudi fields are very well maintained. _________________ Joseph Stalin "It is enough that the people know there was an election. The people who cast the votes decide nothing. The people who count the votes decide everything. "
Joined: Oct 12, 2004 Posts: 1647 Location: Davis, California
Posted: Mon Feb 07, 2005 8:06 am Post subject:
Grimnir wrote:
How does the policy of injecting seawater fit in with the "slow, steady" model?
It depends how much seawater one pumps into an oil reserve. If you pump a lot, you can get fantastic yields. However, you run the risk of having the water push up to the rocks too fast and collapse the field. From what I've read (which isn't much, considering how damn secretive they are) Saudi Aramco has some well managed fields. _________________ Joseph Stalin "It is enough that the people know there was an election. The people who cast the votes decide nothing. The people who count the votes decide everything. "
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