World
Institutional
links
Welcome back on
26 -29 August,
ONS 2008
Bridging
the energy gap
is ONS 2006 theme,
from 22-25 August,
in Stavanger, Norway
Petroleumworld
Business
Partners:
Centre for
Global Energy
Studies
  |
OTC: "There is plenty oil in the world' - Sandrea
Dr. Rafael Sandrea, president of IPC Petroleum Consultants Inc.
HOUSTON
Petroleumworld.com, May 8, 2008There is no oil scarcity in the world, "there is plenty of oil in the world", Dr. Rafael Sandrea, president of IPC Petroleum Consultants Inc., a Tulsa base International consulting firm, speaking at a press conference at the OTC energy conference in Houston, on Wednesday, insisted.
Sandrea explained his holistic assessment model of the global oil and natural gas resource base with evaluating its production capacity over the medium and long al " Future Global Oil & Gas Supply: A Quantitative Analysis" Pennwell, 2008.
Contrary to the case of scarcity of oil reserves, Sandrea proves with his model that global crude oil and natural gas reserves are still strong and only 20% of the discovered reserves have been used.
Even do some experts for see a crucial inflection point ahead, base in historic discovery rates, and their estimates of decline, in the world hydrocarbons reserves, claiming that a peak oil and gas production is looming and a collapse in in the horizon, Sandrea, said that until now, nobody has made a credible attempt to quantify future potential oil and gas supply in detail, ands on a global basis.
Sandrea concludes that, contrary to the well publicize "Peak Oil theory" that oil & gas reserves are in imminent danger of "falling from cliff", there is in fact spare capacity available with the demand and supply remaining in balance for decades to come.
Dr. Rafael Sandrea, Phd. Venezuelan born, graduated cum laude in petroleum engineering from the University of Tulsa and received his Ph.D from Penn State University, with an extensive career in Petroleum, in 1974, he founded a Caracas-base engineering company ITS Servicios Tecnicos, carrying out projects around the world. He is co author with Dr. Ralph Nilsen of the extensively used book, Dynamics of Petroleum Reservoirs under Gas Injection, Gulf Publishing, 1974.
Story by Elio Ohep, editor of Petroleumworld
Petroleumworld 08 05 08
Copyright© 2008 respective author or news agency. All rights reserved.
We welcome the use of Petroleumworld™ stories by anyone provided it mentions Petroleumworld.com as the source. Other stories you have to get authorization by its authors.
Your feedback is important to us!
We invite all our readers to share with us
their views and comments about this article.Write to editor@petroleumworld.com
Any question or suggestions, please write to:
editor@petroleumworld.com
Best Viewed with IE 5.01+
Windows NT 4.0, '95, '98 and ME +/ 800x600 pixels
