There has never been a lack of oil in the world. By using advanced extraction methods and with higher oil prices, economically accessible reserves are increasing. Because of the new technologies, which I discuss in detail in this book, these reserves continue to increase. Up to now, an average of 20 to 30% of the original oil present in the ground is recoverable. This percentage could rise to 50 to 60%. Production from structures that were previously unproductive is now and continues to become possible. This will lead to hundreds more years of oil extraction.
This book is about oil. But gas reserves (the invisible gold) have also increased sharply, in part due to new technologies, and have more than doubled since 1980 with an average increase of 3% per year. This will provide 253 years of production at current production levels.
It should also be mentioned that this doesn’t take into account new future discoveries and adjusted reserves, which there are sure to be.
General disclaimer 5
1 Introduction 13
2 The origin of oil and gas and how to find it 29
3 Geology in a nutshell 39
4 Reserves 49
5 The facts 61
6 The “Seven Sisters” (1940 – 1970) 77
7 The marriage between two sisters 105
8 Drilling operations 117
9 Production 137
10 Other energy sources 169
11 Offshore 193
12 Peak oil and mega finds 223
13 The oil price 233
14 L’Addition 239
15 Important dates in oil history 267
16 A few more things 279
About the author 282