Huge volumes of discovered hydrocarbons remain 'stranded' in South Atlantic fields of Brazil, Angola and Falklands

Wednesday, October 28th 2020 - 09:23 UTC

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Huge volumes of discovered hydrocarbons worldwide are currently ‘stranded,’ according to a study by Westwood Global Energy Group. The consultant has identified 119 fields in this category that were found between 2008 and 2016 with collectively 11 Bbbl of oil and 36 Bboe of gas, but currently not progressing toward development, including Brazil, Angola, and the Falkland Islands in the south Atlantic. Read full article

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FortHay
Sounds like many of the 26 reasons result from the peculiarity of hydrocarbon demand/price relationship. It is somewhat surprising to learn that hydrocarbons appear to contradict the conventional demand / supply / price rules of traditional economic theory. When hydrocarbon market prices rise and exceed certain benchmark levels, due to tightened supply, the availability actually might rise, because previously cost-prohibitive extraction and production now become economically profitable, thereby bringing on stream large amounts of hitherto excluded supply. Such is the case with shallow heavy oils requiring steam stimulation, low permeability ('tight') oil and gas reserves brought on line with costly fracking and deep water production at high development cost.
Oct 28th, 2020 - 04:27 pm - Link - Report abuse 0
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Fito Garcia
Take your hands off of Argentinean oil reserves. We all know this was the big reason for invading our islands
Nov 05th, 2020 - 08:08 pm - Link - Report abuse 0
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