This paper gives observations on oil reserve estimation based on the personal experiences of the authors. One of us was a petroleum exploration geologist, and the other in charge of petroleum production engineering. The paper contrasts the different approaches to oil reserves estimation of these two disciplines. In addition, it discusses of the impacts of changes in oil price, and also a range of often under-recognised commercial and ‘political’ factors, on such estimates.
Campbell, C. & Gilbert, J. (2017) Oil Reserve Estimation and the Impact of Oil Price The Oil Age 3 (2) 1-14
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