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DantesPeak
Expert
Joined: Oct 23, 2004
Posts: 5905
Location: New Jersey
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 Posted: Sat Jun 21, 2008 10:08 am Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| Graeme wrote: | Just a quick reply to you both.
Hirsch said himself that:
| Quote: | | Economic upheaval is not inevitable (“given enough lead-time, the problems are soluble with existing technologies.”) |
Actually this has been my message all along. Khurais is part of this message. |
Economic upheaval is inevitable, and coming soon.
The financial system, and more broadly capatalism, can not effectively deal with the transition from liquid fuels to other fuels at this point in history.
Peleg is right, we are going to see the value of our assets plummet from here out. Forum members here may be able to adapt better than most psychologically and financially, but even then with world based financial and political systems becoming unstable, outcomes are uncertain.
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TheDude
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Joined: Apr 06, 2006
Posts: 3389
Location: 3 miles NW of Champoeg, Republic of Cascadia
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| Posted: Sat Jun 21, 2008 11:03 am Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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They're a year ahead of schedule with Khurais, if that's any interest.
I'm treating KSA almost as a red herring anymore. Ghawar could be crashing, could be in fine shape. All we know is there's a lot of new drilling in the area, and what can be seen in satellite imagery; they continue to raise and lower output according to quota demands. All of this scrutiny of chance remarks in Armaco bulletins and SPE papers is truly grasping at straws.
As an American I think we should be much more concerned about declines in our neighbors' production - especially Mexico.
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I will not abide another toe. |
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nth
Light Sweet Crude
Joined: Feb 24, 2005
Posts: 1976
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| Posted: Sat Jun 21, 2008 11:52 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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Talking about Saudi, don't they have like several oil fields that are in reserve and not set to production? I was told if all these fields are brought online, we can see a few million barrels per day.
The stats are about 23-25 fields in current production out of 80-85 fields. This leaves about 60 fields not in production. If they just average 50kbpd, then they hit 3mbpd.
No wonder many experts believe Saudi's can sustain 12mbpd for a few decades. |
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KevO
Expert
Joined: May 24, 2005
Posts: 2358
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| Posted: Sun Jun 22, 2008 4:31 am Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| nth wrote: |
No wonder many experts believe Saudi's can sustain 12mbpd for a few decades. |
If this is true, the truth is the Earth can't handle anymore emissions.
It HAS to stop. Oil use that is.
period
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TheDude
Expert
Joined: Apr 06, 2006
Posts: 3389
Location: 3 miles NW of Champoeg, Republic of Cascadia
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| Posted: Sun Jun 22, 2008 8:49 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| nth wrote: | Talking about Saudi, don't they have like several oil fields that are in reserve and not set to production? I was told if all these fields are brought online, we can see a few million barrels per day.
The stats are about 23-25 fields in current production out of 80-85 fields. This leaves about 60 fields not in production. If they just average 50kbpd, then they hit 3mbpd.
No wonder many experts believe Saudi's can sustain 12mbpd for a few decades. |
Most of those extra fields are pretty modest in URR. The big fields they're bringing online now have been mothballed for good reasons; Manifa was discovered in 1957 but never developed because it's heavy and full of vanadium and H2S. High prices can make them economical now but whether their customers can afford them long term is the big question.
Forget how many wells KSA are up to now; perhaps they will emulate the post peak US and drill hundreds of thousands of holes to try and keep on the treadmill. Whether this will keep them on the up and up also remains to be seen.
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I will not abide another toe. |
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OilFinder2
Light Sweet Crude
Joined: Mar 26, 2008
Posts: 1159
Location: Seattle
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| Posted: Sun Jun 22, 2008 8:53 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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I have a sneaking suspicion that much of the oil from these heavier oil fields they will refine themselves and sell the finished gasoline instead.
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Abundance - what a concept! |
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nth
Light Sweet Crude
Joined: Feb 24, 2005
Posts: 1976
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| Posted: Mon Jun 23, 2008 4:14 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| TheDude wrote: |
Most of those extra fields are pretty modest in URR. The big fields they're bringing online now have been mothballed for good reasons; Manifa was discovered in 1957 but never developed because it's heavy and full of vanadium and H2S. High prices can make them economical now but whether their customers can afford them long term is the big question.
Forget how many wells KSA are up to now; perhaps they will emulate the post peak US and drill hundreds of thousands of holes to try and keep on the treadmill. Whether this will keep them on the up and up also remains to be seen. |
They don't have anymore mega fields. I think the stats are like 8 fields make up the overwhelming amount of SA production. Just one field Ghawar makes up to 5mbpd out of the 9+mbpd they are currently producing. The exploration program in the Empty Quarter has been a big disappointment. |
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OilFinder2
Light Sweet Crude
Joined: Mar 26, 2008
Posts: 1159
Location: Seattle
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| Posted: Wed Jun 25, 2008 12:00 am Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| OilFinder2 wrote: | | I have a sneaking suspicion that much of the oil from these heavier oil fields they will refine themselves and sell the finished gasoline instead. |
Damn I'm good.  Just saw this today.
--> LINK <--
| Quote: | Saudi Aramco and Total Sign Agreements to Establish New JV
Posted on: Tuesday, 24 June 2008, 02:30 CDT
Saudi Aramco and French integrated oil major Total have signed the shareholders agreement and other core agreements for the establishment of their joint venture, the Jubail Refining and Petrochemical Company.
The 400,000 barrel-per-day Jubail refinery will process Arabian heavy crude to highquality refined products that will meet the most stringent global product specifications and is expected to begin operations at the end of 2012.
As a full-conversion unit, the refinery is expected to maximize the production of diesel and jet fuels. In addition, the project will produce 700,000 tons per year (tpy) of paraxylene, 140,000tpy of benzene and 200,000tpy of polymer-grade propylene.
The refinery will benefit from its proximity to the Arabian heavy crude supply system and from the facilities of the Jubail Industrial City, including power and water grids.
[...] |
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Abundance - what a concept! |
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Chuckmak
Intermediate Crude
Joined: Mar 19, 2005
Posts: 826
Location: Bridge City
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| Posted: Wed Jun 25, 2008 11:59 am Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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it's about the only prediction you've gotten right so far
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nth
Light Sweet Crude
Joined: Feb 24, 2005
Posts: 1976
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| Posted: Wed Jun 25, 2008 2:45 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| KevO wrote: | | nth wrote: |
No wonder many experts believe Saudi's can sustain 12mbpd for a few decades. |
If this is true, the truth is the Earth can't handle anymore emissions.
It HAS to stop. Oil use that is.
period |
We need stop using Coal first before we tackle oil if you want to prioritize about global warming. |
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misterno
Heavy Crude
Joined: Mar 07, 2007
Posts: 301
Location: Houston, TX
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| Posted: Wed Jun 25, 2008 8:18 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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that is right
But coal is more and more used to generate power
What a dilemma |
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