Open-File Report 2007–1021
In June 2000, the U.S. Geological Survey (USGS) published the results of a world petroleum assessment (exclusive of the United States), based on data current through 1995 (U.S. Geological Survey World Energy Assessment Team, 2000). The assessment included the volumes of undiscovered crude oil and natural gas estimated to have the potential to be added to reserves in a 30-year time frame (to 2025). Klett and others (2005) compared the actual additions to reserves as reported from January 1996 to December 2003 (IHS Energy, 2003) with those estimates, apportioned to the 1996–2003 period (27 percent of the 30-year time frame). The present report (1) provides tabular data, not included in the 2005 report by Klett and others, that support the graphical displays and (2) briefly summarizes the interpretations and conclusions presented in the 2005 report.
Approximately 28 percent of the additions to oil reserves by reserve growth and approximately 11 percent of the estimated undiscovered oil volumes that were estimated for the World Petroleum Assessment 2000 (U.S. Geological Survey World Energy Assessment Team, 2000) were realized in the 8 years since that assessment. Slightly more than half of the estimated additions to gas reserves by reserve growth and approximately 10 percent of the estimated undiscovered gas volumes were realized. Between 1995 and 2003, growth of oil reserves in previously discovered fields exceeded new-field discoveries as a source of global additions to reserves of conventional oil by a factor of about 3 to 1. The greatest amount of reserve growth for crude oil was in the Middle East and North Africa, whereas the greatest contribution from new-field discoveries was in Sub-Saharan Africa. The greatest amount of reserve growth for natural gas was in the Middle East and North Africa, whereas the greatest contribution from new-field discoveries was in the Asia Pacific region. On an energy-equivalent basis, volumes of new gas field discoveries exceeded new oil field discoveries. The graphs are based on the data listed in tables 1 and 2.
Posted March 2007