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Can anyone link to the production graph of KSA including the increases in drilling rigs(@3x). I think khebab did it 2-5 months ago I don't know for sure. It fits well with the current discussion above. The chart is worth a thousand words.
I don't know how to search and link or I would do it.
Thanks,
D
I dont think there is much point in looking for an increased pulse in flow (just yet).
The ramping up of rigs - which is impressive started in earnest in 2006. The effects will take some time.
Some will be for in-fill and field enhancement drilling, some will be for workovers of existing wells, some will be for exploration and appraisal, and then development of any (if any ) newly discovered fields.
Infill and field enhancement has a small lag, exp , appraisal and development is less certain, and governed by proximity to existing infrastructure and the amount of development drilling that follows.
Infill, enhancement and workovers help sustain the life of a field, but does not increase beyond peak production / peak flow. Look to the North Sea : it keeps us alive for longer, but does not add oil flows that then exceed the 1999 peak flow rate.
No. Only successfull exploration can do that.
The only contrarian argument would be that KSA has been sitting on secret supergiants which are now going to be developed in the next 1-5 years.
So, that is the question: Have KSA held the best back for last?
As always, the proof of the pudding is in the eating.