ExxonMobil Publicizes Estimated Volume of World Recoverable Oil Reserves
Kazakhstan, Astana / corr Trend K.Konirova / Scott Numann, an expert of the US company, stated in Astana that the volume of world recoverable oil reserves comprises 450bln tons.
"If we were to add to this figure the forecast volume of 'border' resources, such as heavy oil and shaleoil, then the total volume would exceed 5,75bln tons. These are the latest calculations by ExxonMobil, compared with the data provided by the US Geological Service," he stressed. However, the expert did not rule out the possible increase of this figure following the continuous improvement in technology. "So far, man has produced only 140bln tons of crude oil through traditional methods, we believe existing resources are enough to cover the boosting demand for oil in the period by 2030," Scott emphasized.
According to ENI's report, as of 1 January 2006 the recoverable oil reserves of Azerbaijan constituted 7bln barrels.