39._New_Oil_Provinces

39._New_Oil_Provinces - MoreOilbutMoreDifficulttoGet

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More Oil but More Difficult to Get
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2 Major New oil provinces include: West Africa Central Asia Artic (Norway, Alaska, Russia, Canada, Greenland) South America (Brazil) Access is a key issue Infrastructure often determines the  Location of development Lead times remain long if not more so  Natural gas is the fuel of future
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4 Project Participants Share Russia 24 % Kazakhstan 19 % Chevron Corporation 15% Lukoil/ARCO Corporation 12.5% Mobil Corporation 7.5% Rosneft/Shell Corporation 7.5% Oman 7% Agip SpA 2% British Gas PLC 2% Oryx Corporation 1.75% Kazakhstan Pipeline Ventures 1.75%
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5 CPC Project connects  Kazakhstan’s Caspian Sea area oil  deposits with Russia’s Black Sea  port of Novorossiysk concerns surrounding higher  export levels  Increased congestion (750,000 barrels/ day) in Turkey’s Bosphorus Straits
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6 Oil demand over next 15 years in OECD Europe  expected to grow by 200,000 barrels/day Asian market demand  expected to grow by 8  MMB/day over same  timeframe Chinese production to  increase by 2020 4 MMB/day
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7 Kazakhstan-China Pipeline December 2005, $850 million, 613-mile pipeline from  NW Kazakhstan to China’s NW Xinjiang region  completed When all 3 stages are complete, the 200,000 bbl/day  pipeline will span 1,860 miles from Atyrau to  Alashankou, China
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8 Caspian states
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9 Country Project Proven  Reserves 2006  Production Projection Azerbaijan ACG Mega- Structure 5.4 billion bbl 450,000 bbl/d 2007: 550,000 bbl/d 2010: 1 million bbl/d Shah Deniz 2.5 billion bbl 14-22 tcf Not producing 2007: 296 bcf Kazakhstan Tengiz 6-9 billion bbl 270,000 bbl/d 2007: 300,000 bbl/d 2010: 650,000 bbl/d Karachaganak 2.4 billion bbl 200,000 bbl/d 547 bcf 2010: 500,000 bbl/d            800 bcf Kashagan 7-9 billion bbl Not producing 2010: 75,000 bbl/d 2015: 1.2 million Turkmenistan Cheleken .6 billion bbl 25,000 bbl/d 2010: 40,000 bbl/d Nebit Dag .1 billion bbl 19,000 bbl/d Uzbekistan Central Ustyurt  90 million bbl 18.7 tcf 2007: 2,600 bbl/d            71 bcf Fergana Basin 1.2 billion bbl 5.5 tcf
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10 Gigantic Kazakhstani oil field operated by  TengizChevroil
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This note was uploaded on 04/19/2011 for the course EGEE 120 taught by Professor Considine,timothy during the Spring '07 term at Penn State.

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39._New_Oil_Provinces - MoreOilbutMoreDifficulttoGet

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