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Issue 2, Volume 9, 2012
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Oilfield Glossary
Discovered in the 1950s, North Dakota’s Bakken Formation oil production was just 1,500 bpd in 2004. Today, it exceeds 440,000 bpd and is expected to be 700,000 bpd within the next few years.
The much-vaunted Arab Spring, which has brought new life to the Libyan oil industry, where production is reportedly already nearly back to pre-revolution volumes, is having a less satisfactory impression on the business elsewhere in the Middle East.
Exploration in South East Asia has a long history – almost 150 years. Is its heyday gone or do giant fields still lie in wait?
Iran holds about a tenth of the world’s proven reserves of oil and 16% of the gas, and is the fifth largest oil exporter. Here we review the country’s oil and gas fields and reservoirs, particularly in the prolific south-west.
New geochemical data reveal similar petroleum systems to those found in the prolific sub-salt off Africa and Brazil and significant potential for Namibia’s offshore basins.
Recent commercial discoveries and modern 2D seismic in the Tobago Basin suggest that prolific natural gas reserves may extend far beyond the established trend and play concepts.
The recent Bath Discoveries Conference was devised as a celebration of the 30th birthday of the Geological Society of London’s Petroleum Group.
The Aldous/Avaldsnes prospect has grown into one of the largest discoveries 3in the North Sea ever, largely due to excellent reservoir properties.
CNPC becomes first international player to secure Afghanistan acreage.
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