Oil and gas are said to be a finite resource due to how oil is formed (organic remains of ancient forests or organic material).
There seems to be a huge amount of recoverable oil and gas and then lots more that is not economically viable to extract, at the moment. Every few years there seems a find of the latest new ‘biggest ever field’ or amount of total reserves. Even when figures may be manipulated.
A quick note is in order before diving into the list of the all-time largest fields. First, there is an enormous difference between a field or reservoir’s total reserves in place and the percentage of those reserves that is extractable (and as technologies and techniques improve, that percentage has increased). Second, not only is there room for legitimate difference of opinion when it comes to estimating an oil field, but some countries flat-out lie (OPEC determines quotas, at least in part, by proven reserves). Consequently, this information has to be taken with at least a grain of salt.
5 Of The Biggest Oil Finds In History
Fossil fuels or renewed?
But is oil and gas a finite source? Was it created from organic material? Is it still be produced by a process of the planet? Abiotic Oil?
How is there so much oil and gas? If the process that forms oil and gas is so well known why do they have issues predicting and finding where it is?
Why does the oil have so much pressure? Why do deep sea water vents have water coming out with so much pressure and where does that water come from?
Large and oil and gas fields
Below will be a list of new and largest finds.
- Russia confirms Kara Sea Pobeda discovery
- Petrobras reports gas discovery offshore deepwater Colombia
- The Orca discovery is by far the largest and most significant oil discovery to date in the Kwanza Basin, and is potentially one of the largest oil fields in Angola.
Angola: Cobalt announces Orca-1 test results offshore Angola
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