The presentation titled “Global Significance of Reserve Growth” in the form of
graphic displays to accompany a commentary provides a general overview of the
magnitude and significance of reserve growth in petroleum-bearing areas around
the world. Reserve growth is defined as the increase in successive estimates
of recoverable crude oil, natural gas, and natural gas liquids and condensates
in discovered fields. Reserves grow for a variety of reasons including advances
in drilling/production technology, advances in exploration technology (such
as 3-D and 4-D seismic), and advances in our geologic and engineering understanding
of the petroleum reservoirs. Analysis of recent exploration and production
data shows that, worldwide, petroleum (both crude oil and natural gas) volumes
added to reserves by reserve growth are greater than the volumes of new-field
discoveries.
Version 1.0
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Posted October 2005
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