Study Shows Potential of $65 Billion in Oil and Gas Industry Resources Globally Idled

Written by Valdemar Medeiros

Published on 07/11/2020 at 11:58

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A New Westwood Study Showed Potential Of US$65 Billion In Oil And Gas Resources That Are Globally Idle, With The Largest Volume Of Idle Gas Found In The Ruvuma-Rufiji Basin In Mozambique And Tanzania.

This Oil And Gas, Potentially Worth Over US$65 Billion And With An Estimated Cost Of US$24 Billion To Discover In The Industry, Represents 40% Of The Volume Found In High-Impact Discoveries. The Movement Shows Where These Resources Are Located, Why They Are Stuck, And How Great The Opportunity They Represent Is.

Enormous Amount Of Oil And Gas Industry Resources Are Idle

The Largest Volume Of Stagnant Oil And Gas Industry Resources Is In The Ruvuma-Rufiji Basin In Mozambique And Tanzania, Where 166 Tcf Were Discovered Between 2010 And 2015, But Only 38 Tcf Showed Any Signs Of Progression, And 128 Tcf (Cubic Feet) Of Gas Remains Stagnant.

Brazil Has The Largest Idle Resource Of Oil (And Condensate) Estimated At 3.8 Bnbbl From 19 High-Impact Discoveries Across Five Geological Basins.

ARTICLE CONTINUES BELOW

Contributing Factors According To The Researchers

Westwood Identified 26 Different Contributing Factors. The Above-Ground Factors Dominate, With The Fiscal Regime / Terms Of Oil And Gas In The Host Country, Access To Financing, And Portfolio Prioritization Being The Most Common.

Subsurface Factors Include Fluid Composition And Reservoir Quality And Compartmentalization. In Tanzania, For Example, 14 Deep-Water Gas Discoveries Grouped Into Five Potential Developments Are Idle Due To A Combination Of Above-Ground And Subsurface Issues.

The Above-Ground Issues Are Mainly Related To Protracted Negotiations With The Tanzanian Government Over Gas Terms. The Reservoirs Are More Compartmentalized Than In Neighboring Mozambique, With Lower Resource Densities And Higher Development Costs.

Study Shows Potential of $65 Billion in Oil and Gas Industry Resources Globally Idled

A New Westwood Study Showed Potential Of US$65 Billion In Oil And Gas Resources That Are Globally Idle, With The Largest Volume Of Idle Gas Found In The Ruvuma-Rufiji Basin In Mozambique And Tanzania.

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Enormous Amount Of Oil And Gas Industry Resources Are Idle

Contributing Factors According To The Researchers

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The Defense Minister stated that Brazil “is without defense,” admitted concerning military vulnerabilities, and observed tests with drones and new technologies that the Army wants to use against threats at the borders.

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Study Shows Potential of $65 Billion in Oil and Gas Industry Resources Globally Idled

A New Westwood Study Showed Potential Of US$65 Billion In Oil And Gas Resources That Are Globally Idle, With The Largest Volume Of Idle Gas Found In The Ruvuma-Rufiji Basin In Mozambique And Tanzania.

Also Read

Enormous Amount Of Oil And Gas Industry Resources Are Idle

Contributing Factors According To The Researchers

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

She started by collecting oyster shells from restaurants and today she has already accumulated more than 10 tons to restore reefs, recover coastal habitats, and demonstrate how a common waste can become a tool for ocean conservation.

Philippines begin construction of the country’s largest desalination plant in a city without enough fresh water to grow, and the 66,500 m³ per day plant will transform the sea into drinking water for 50,000 homes in 24 months with reverse osmosis technology from SUEZ and JEMCO.

Turkey is building a billion-dollar shortcut to channel billions of dollars by sea with a 45 km long canal, 275 meters wide and 20.75 meters deep, which promises to relieve the Bosphorus amid the crisis in the Strait of Hormuz.

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Brazil wants to change its level and for that it is putting R$ 396 billion on the table in a mega plan with 35 concessions, 23 auctions, 11,300 km of highways, 9,000 km of railways, and a promise to transform national logistics.

They said Milei was destroying Argentina, but new economic data, increased confidence in banks, and an unexpected market reaction are beginning to raise a question that few imagined hearing again in the country.

The Defense Minister stated that Brazil “is without defense,” admitted concerning military vulnerabilities, and observed tests with drones and new technologies that the Army wants to use against threats at the borders.

Fortaleza gained a track that leads directly from the subway to the airport’s doorstep, a VLT branch that changes the way passengers arrive for boarding.