Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
pstarr wrote:So it's not an oil-bidness game changer, more like loose change lol
Okay guys, may we now return to the very important bidness of morning the end of the age of oil?
British oil major BP has discovered 200 million barrels of oil in a hidden cache in the Gulf of Mexico, thanks to a technological breakthrough allowing the company to see beneath geological formations that had befuddled oil exploration for decades.
The find, worth a potential $2 billion in recoverable oil
BP takes leap forward in seismic imaging technologyProprietary algorithms developed by BP’s Subsurface Technical Center were applied on seismic data run at BP’s Center for High Performance Computing, one of the largest supercomputers in the world dedicated to commercial research. The algorithms allowed data that would normally take a year to be analyzed to be processed in only a few weeks, accelerating BP’s development decisions for the field.
The algorithms enhance a technique known as Full Waveform Inversion (FWI), which matches seismic simulations with existing seismic data to produce high quality subsurface images. “This innovation again shows that BP remains at the forefront of advanced seismic imaging and digital technologies,” said Ahmed Hashmi, BP’s head of upstream technology. “The new technique has produced the best images of this reservoir that we have ever seen.”
*Full Waveform Inversion (FWI) uses advanced algorithms to iteratively refine models of the subsurface by generating seismic wave simulations and adjusting the values of subsurface properties based on the quality of the match between the simulated and recorded data.
Previous images of the Atlantis reservoir had been partially obscured by a massive salt formation above it. But BP scientists designed a new algorithm and used BP’s Center for High Performance Computing to produce a more accurate image of the salt formation. Below you can download an image of the formation from 2004, followed by one from 2016, using the new technique.
before:
After:
vtsnowedin wrote:200 million barrels divided by the USA's consumption of 20 mbpd gives us just 100 days or as Long as Trump has been president. The value is not in what they have found but in the ability to take a better look in a lot of other places and save a lot of dry holes.
vtsnowedin wrote:200 million barrels divided by the USA's consumption of 20 mbpd gives us just 100 days or as Long as Trump has been president. The value is not in what they have found but in the ability to take a better look in a lot of other places and save a lot of dry holes.
MD wrote:vtsnowedin wrote:200 million barrels divided by the USA's consumption of 20 mbpd gives us just 100 days or as Long as Trump has been president. The value is not in what they have found but in the ability to take a better look in a lot of other places and save a lot of dry holes.
10 days. Of course it will be produced over a long period of time, so the point isn't very relevant.
Ghawar has an estimated 70 billion barrels of proven reserves:pstarr wrote:Oops vt . . . wrong again. Ghawar only has 9.6922 billion barrels in p95 reserves. Or is it 9.73 million? Is that bpd? Or what? Correct me if I am wrong. K?
Saudi Arabia was world's largest petroleum producer and net exporter in 2012 - Today in Energy - U.S. Energy Information Administration (EIA)Saudi Arabia's (and the world's) largest oil field (Ghawar) alone contains an estimated 70 billion barrels of proved reserves
EIA: Saudi ArabiaReserves
According to the Oil and Gas Journal, Saudi Arabia contains approximately 265 billion barrels of proven oil reserves. The giant Ghawar field, the world's largest oil field with estimated remaining reserves of 70 billion barrels, has more proven oil reserves than all but seven other countries.
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