<"Oil Shale Development Imminent" The Oil Drum DrumBeat: June 19, 2006>

73 comments on A Megaproject list from the Oil and Gas Journal

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davebygolly on June 18, 2006 - 11:19pm Permalink | Subthread | Comments top
The most intesesting question is, as HO notes, whether new projects will keep up with depletion (never mind new demand.) BUT, the second most interesting question, for me anyway, is how much the new production will cost compared to prior. I doubt there's much that can be safely said about that, but that doesn't stop me from asking. What has been the increase in costs of extraction and all else, and what might it be in the projects listed here?
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rwmcalister on June 19, 2006 - 1:03am Permalink | Subthread | Parent | Comments top
Isn't the 300K bpd of Haradh III already included in the new developments and infill wells that the Saudis admitted are necessary to keep the 8% decline of the Saudi mature fields to only an effective 2-3% decline?  While OGJ, CERA, and CS list this new production, do they account for overall depletion or do they just give the positive numbers?
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jim burke on June 19, 2006 - 2:40am Permalink | Subthread | Parent | Comments top
Does anyone know how much slippage we can expect? That is to say, based on prior O&GJ reports, do they generally factor in slippage, or do they assume things will go on schedule, even when past experience suggests they will slip?
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Leanan on June 19, 2006 - 9:05am Permalink | Subthread | Parent | Comments top
Possibly related:

Energy exploration 'hit by rising costs'

Energy explorers have seen exploration costs rise by more than a third over the last year posing a serious threat to the future of the industry, a peak industry body says.

At an industry conference in Darwin, chief executive of the Australian Petroleum Production and Exploration Association (APPEA) Belinda Robinson said exploration was also being threatened by limited equipment availability.

"In general we have seen costs increase by around 35 per cent over the past year," Ms Robinson said.

"This combined with the limited physical availability of rigs poses a serious issue for the industry."

She said the cost of using a drill rig was now about $250,000 a day, compared to $65,000 a day 18 months ago.

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73 comments on A Megaproject list from the Oil and Gas Journal

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