[Rogozhin]

[quote]And it's hard not to argue with a simple fact: Shell and other oil companies aren't spending billions of dollars without believing that it'll pay off for years to come. "We're putting all of our free cash into oil and gas development," says Russ Ford, vice president of development for Shell. "We believe hydro-carbons will be there for a very long time. Nothing is going to knock down oil."[quote]


Can they not predict the amount of oil in the underwater fields?

[BigTex]

$this->bbcode_second_pass_quote('Rogozhin', 'C')an they not predict the amount of oil in the underwater fields?

[copious.abundance]

--> World Oil Magazine <--
$this->bbcode_second_pass_quote('', '[')b]Future drilling technology: Closer than you think
Safer, more automated drilling and with greater capabilities for managing difficult pressure environments than the best we have today-in other words, a reach into the future-is making good progress. Even remotely operated drilling is possible.

Steinar Strom, Mohsen Karimi Balov, Halvor Kjorholt, Rune Gaaso, StatoilHydro; Erlend H. Vefring , IRIS; Rolv Rommetveit , SINTEF Petroleum Research

StatoilHydro believes that a new, fully Automated Drilling System (ADS), while a major technological effort, is achievable in the relatively near future. The company is pursuing various sub-systems for incorporation into an all-inclusive integrated system. Two different solutions are the Drilltronics (IRIS/NOV) and the eControl/eDrilling (SINTEF /HPD/Aker Solutions) concepts.

The Drilltronics system is based on mathematical computer models for dynamic real-time analysis of drilling processes; critical limits for operational parameters, such as drilling fluid pump rate, trip velocity and optimal process parameters are calculated. The result is used to control drilling equipment in real time. The new system has been field tested on the Statfjord C platform. Combining the new system with wired pipe, decision support programs and continuous measurements of drilling fluid parameters give synergy effects that, in the future, may allow remotely operated drilling systems.

eDrilling is an innovative system for real-time drilling simulation, 3D visualization and control from a remote drilling expert center and is the technology basis for eControl, which is a rig supervision, optimization and control system that will integrate 3D visualization of the wellbore with advanced drilling process models.

This article gives an overview of field-tested, pilot-tested equipment and the synergy effect when combing different technical solutions in future drilling scenarios.

[...]

[seldom_seen]

Awesome! We'll be able to drain what's left even quicker now!

[mos6507]

$this->bbcode_second_pass_quote('seldom_seen', 'A')wesome! We'll be able to drain what's left even quicker now!

[neocone]

Tribal lifestyle and return to the Land is the future... closer than you think

Nature has its own energy capitalism which no governement bailout will ever be able to fight or pervert.

My friend who just came back from a year long expedition in the amazonian forest for his anthropology studies asked me this morning:

"Are all of the sudden a lot of people flip floppers??? What has changed in the last year to see so many idiots want to drill more all of the sudden and environmental concerns be set aside?"

[mos6507]

$this->bbcode_second_pass_quote('neocone', '
')Are all of the sudden a lot of people flip floppers??? What has changed in the last year to see so many idiots want to drill more all of the sudden and environmental concerns be set aside?

[TheDude]

As usual ROCK or rockdoc may be able to tell you how groundbreaking this is. Remember THAI (Toe To Heel Air Injection)? Can't find any hits for it on Google News, even though I see Petrobank's stock has risen 1020%.

Even before I learned about peak oil I'd read how the deepwater offshore rigs were considered the stuff of science fiction until the IOCs knuckled down and actually built them. So, Will Technology Delay Peak Oil ?

$this->bbcode_second_pass_quote('', 'I')n the Prudhoe Bay field's early days, oil industry said the field would ultimately produce ~10 billion barrels (Gb) of oil. Jeremy Gilbert, former BP Chief Petroleum Engineer, has stated that the field's producers had aninternal estimate of ~12-15 Gb. The lower end of that estimate is now supported by production data since the field started declining in the late 1980s (see Fig. 1).



Extrapolation of the best-fit line through the declining data points gives an ultimate recovery of ~12.3 Gb. From 1989 through 2003, the Prudhoe Bay field declined at an average rate of 10.1%/year. In this case, advanced extraction technology has not significantly altered the initial EUR value. The same situation is also observed for North Sea fields. Oil producers working in the North Sea have used the best available technology. Those technologies have led to very high production rates in the early stages of production and ultimately high decline rates. Table 1 illustrates that point.

[Maddog78]

This technology will not really have that big of an impact.
They are more about remote monitoring and control of the drilling operation.

It still involves operating the same pipes, pumps and someone still has to mix the same type of drilling fluids they use now.
This is more so the guys in the office can keep a closer eye on the ops.

I see a lot of downtime/repairs for this system when it is actually introduced to the field and it will take a long time for non-Norwegian drilling contractors to pick up on it, especially in this current economic climate.

[vaseline2008]

I'm just curious if anyone has any info on the total amount of oil thats ever been extracted from the Earth. I did an Excel spreadsheet to calculate 85 Million barrels over 36,500 days (roughly 100 years) and came out with 3.1 Trillion barrels. I know we haven't been pumping oil at 85 mbpd for the past 100 years but would it be safe to say that we have pumped out around 2 Trillion barrels thus far in human history?

I couldn't find anything on Google or here on PO.

[3aidlillahi]

It's roughly a trillion barrels.

[startswithearthquakes]

So .. what lake does that = to?

[eastbay]

Almost exactly Lake Tahoe

[vaseline2008]

$this->bbcode_second_pass_quote('3aidlillahi', 'I')t's roughly a trillion barrels.

[zeke]

Or put another way, enough oil has been extracted for us to get real comfy with a squanderous lifestyle and with our belief that the laws of physics do not apply to us or to any of our activities, past, present, future, whether or not we are able to fly at Warp 10 to the planet where the hot green chicks boogie.

zeke

[Bartolo]

I'm preparing for a Doctorate in Economics in Ireland. I am going to do research related to crude oil. I would like to know how much oil is consumed and wasted during the proccess of extraction (when i make calculations following the statistic of 'oil consumption by country' from NationMaster.com i get to the conclussion that Canada uses almost 30 times more oil then China per capita what is incredible). Please let me Your opinion.

Kind Regards, Bart

[Blacksmith]

$this->bbcode_second_pass_quote('Bartolo', 'I')'m preparing for a Doctorate in Economics in Ireland. I am going to do research related to crude oil. I would like to know how much oil is consumed and wasted during the proccess of extraction (when i make calculations following the statistic of 'oil consumption by country' from NationMaster.com i get to the conclussion that Canada uses almost 30 times more oil then China per capita what is incredible). Please let me Your opinion.

Kind Regards, Bart

[AAA]

Your questions doesn't make any sense because it is impossible to measure.

First of all define "wasted".

Second define "during extraction"

Do you include only well site fuel consumption, the utility companies fuel used to set up pipelines or electrical grids to the well, the delivery trucks transporting equipment to the site, the office employees driving to work, the company jet, the fuel used from a ship that transports products used on the well from across the ocean, the gas used by the landman who negotiated the oil and gas lease, the gas driven by the geologist while he was in college, the gas used by the engineer when he went out to lunch, the oil used to lube the pipe fittings, oil used to transport all the office furniture to the company office, oil used in making the company furniture, oil used in etc....

Not to be rude but do you see my point?

[lper100km]

$this->bbcode_second_pass_quote('Bartolo', 'I')'m preparing for a Doctorate in Economics in Ireland. I am going to do research related to crude oil. I would like to know how much oil is consumed and wasted during the proccess of extraction (when i make calculations following the statistic of 'oil consumption by country' from NationMaster.com i get to the conclussion that Canada uses almost 30 times more oil then China per capita what is incredible). Please let me Your opinion.

Kind Regards, Bart

[Bartolo]

$this->bbcode_second_pass_quote('AAA', 'Y')our questions doesn't make any sense because it is impossible to measure.

First of all define "wasted".

Second define "during extraction"

Do you include only well site fuel consumption, the utility companies fuel used to set up pipelines or electrical grids to the well, the delivery trucks transporting equipment to the site, the office employees driving to work, the company jet, the fuel used from a ship that transports products used on the well from across the ocean, the gas used by the landman who negotiated the oil and gas lease, the gas driven by the geologist while he was in college, the gas used by the engineer when he went out to lunch, the oil used to lube the pipe fittings, oil used to transport all the office furniture to the company office, oil used in making the company furniture, oil used in etc....

Not to be rude but do you see my point?