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• W2033096660 abstract "American Institute of Mining, Metallurgical and Petroleum Engineers, Inc. This paper was prepared for the 42nd Annual Fall Meeting of the Society of Petroleum Engineers of AIME, to be held in Houston, Tex., Oct. 1–4, 1967. Permission to copy is restricted to an abstract of not more than 300 words. Illustrations may not be copied. The abstract should contain conspicuous acknowledgment of where and by whom the paper is presented. Publication elsewhere after publication in the JOURNAL OF PETROLEUM TECHNOLOGY or the SOCIETY OF PETROLEUM ENGINEERS JOURNAL is usually granted upon request to the Editor of the appropriate journal provided agreement to give proper credit is made. Discussion of this paper is invited. Three copies of any discussion should be sent to the Society of Petroleum Engineers office. Such discussion may be presented at the above meeting and, with the paper, may be considered for publication in one of the two SPE magazines. Abstract Trends in the growth of crude oil production and reserves in various areas of the world are presented graphically, illustrating the dramatic changes in distribution of crude oil availability during this period. While Eastern Hemisphere reserves passed those of the Western Hemisphere in 1945, production remained below that of the Western Hemisphere until 1962. Reserve growth trends have been projected ten years into-the future in an effort to evaluate the future distribution of crude oil availability. It appears likely that U. S. reserves will decline, Western Hemisphere reserve growth will flatten, and Eastern Hemisphere reserve growth will continue approximately the present rate. Introduction The purpose of this discussion is to review past trends of crude oil production and reserves in various areas of the world in the hope that this study will throw some light on the future distribution of the world's oil resources. The importance of the subject is almost self evident because a modern industrial economy is almost completely dependent on an adequate supply of petroleum products and even the economies of the less developed nations would be severely crippled if the supply of these products were interrupted. Events of the last few months have reminded us dramatically that the location of petroleum reserves can be a matter of critical importance. While some idea of present and future availability of crude oil from an area can be obtained by a study of production trends, reserves can be a more reliable guide although it is recognized that even reserve trends are not completely adequate for this purpose. The difficulty is in some degree the result of our concept of the meaning of the term reserves. A proved petroleum reserve can be defined as a quantity of hydrocarbons, the presence of which can be proved to a high degree of probability and which can be recovered at a profit by presently known methods." @default.
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• W2033096660 date "1967-10-01" @default.
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• W2033096660 title "Trends in World Crude Oil Production and Reserves" @default.
• W2033096660 doi "https://doi.org/10.2118/1823-ms" @default.
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