At the beginning of 2011, proved oil reserves are estimated at 197 billion (109) tonnes, 8.5% higher than last year's estimates. Oil and Gas Journal justifies this, indeed, exceptional increase as basically the by-product of Venezuela's (Orinoco Basin) value hike (112%) and certain African countries entering data for the first time, or else an estimates increase with respect to previous years.
- North America
- Central and South America
- Europe
- CIS
- Africa
- Middle East
- Asia - Oceania
- WORLD TOTAL
- OPEC
- % OPEC/WORLD
- 5,6
- 11,9
- 3,4
- 8,0
- 7,4
- 54,3
- 5,2
- 95,8
- 64,8
- 67,6
- 5,3
- 17,2
- 2,0
- 8,1
- 8,0
- 89,5
- 6,7
- 136,8
- 105,1
- 76,8
- 4,3
- 17,0
- 2,7
- 9,0
- 10,0
- 91,5
- 5,9
- 140,4
- 109,1
- 77,7
- 6,3
- 16,1
- 2,3
- 16,6
- 15,5
- 100,7
- 5,4
- 162,9
- 122,4
- 75,1
- 8,1
- 19,2
- 1,7
- 17,5
- 16,6
- 102,0
- 5,6
- 170,7
- 129,8
- 76,0
- 8,6
- 30,1
- 1,6
- 16,9
- 16,9
- 102,0
- 5,6
- 181,7
- 140,4
- 77,3
- 8,6
- 45,2
- 1,5
- 16,9
- 17,5
- 101,9
- 5,6
- 197,2
- 157,2
- 79,7
- 4,46
- 22,9
- 0,7
- 8,6
- 8,9
- 51,7
- 2,8
- 100,0
- 79,7
Source: BP Statistical Review of World Energy and Oil and Gas Journal. Prepared by Sedigas.
Breaking it down into geographical areas, the Middle East holds 52%, Central and South America 23% (16.5% in last year’s assessment) and Africa 9%. Europe contains 0.7% of the worldwide reserves, a share in continual decline.
In 2010, deep-water prospecting continued to intensify. Brazil’s waters remain one of the most fruitful foci as far as results are concerned (it was confirmed in May that the Tupi region holds between 5 and 8 billion of light petroleum and natural gas), while activity has fanned out across other parts of the world. Among them we find African and Asian waters, with Africa already yielding notable results.
In the US, the number of operational wells had increased by 47% come mid April. Extending the search for shale gas into a sizeable part of the world’s potential deposits was another of 2010’s defining characteristics.
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IBERDROLA