Journal of Petroleum & Environmental Biotechnology

Characteristics and potential of reserve growth of the discovered giant oil fields in the Middle East

2^nd World Congress on Petrochemistry and Chemical Engineering

October 27-29, 2014 Embassy Suites Las Vegas, USA

Haiguang Bian

Accepted Abstracts: J Pet Environ Biotechnol

Abstract:

Taking the Middle East as the research objective, the characteristics of reserve growth was analyzed by comparing estimated additions of recoverable reserve during different periods, whilst the potential reserve growth of the discovered giant oil fields in the Middle East through statistics of annual reserve growth factors and building annual reserve-growth function by the least square method. The additions of recoverable reserve comprised of newly discovered reserves and reserve growth of the discovered giant oil fields. Studies show that the reserve growth has been increased sharply and the newly discovered reserves have been decreased slightly during the past several decades. The reserve growth has accounted for a large proportion of the additions of recoverable reserve, which increased from 71% in 1980s to 96% in 2000s. According to the established function of reserve growth, it is estimated that there will be 4 366?108 tons of reserve growth in the discovered giant oil fields of the Middle East, so the potential of reserve growth is great.