Craig is temporarily a post-doctoral fellow at the Monterey Bay Aquarium Research Institute who is looking for a permanent position. He spends most of his time balancing his overwhelming geekdom with normalcy so he can function in the real world. Luckily his wife likes his geekiness.
Peter Etnoyer is a Graduate Research Associate at the Harte Research Institute for Gulf of Mexico Studies, Texas A&M University-Corpus Christi. He studies deep corals and ocean fronts, and he loves to be on the water.
Kevin Zelnio is a Graduate Student Researcher at Penn State studying the ecology of hydrothermal vent and methane seep communities. He raises awareness of the plight of the spineless through folk music.
This week's post, There is Plenty of Oil, generated a heated discussion about the finer points of peak oil and oil reserves. In line with oil reserves, I noted that offshore deposits are unlikely to sustain global oil consumption or even delay the oil peak predicted originally by Hubbert. Less than one year ago, the chariman for Global Petroleum was speaking optimistically about a Woodside-Dana-Global Petroleum joint venture, that would begin developing Kenya's offshore oil fields.
Dr. Armstrong said that the Kenya acreage has the potential to become a significant oil region:
- Woodside currently regards Kenya as having "multiple large structural prospects" (November 2005 Woodside presentation);
- Woodside's mapping and seismic surveys have identified more than 30 prospects and leads, a number of which are each capable of holding several hundred million to a billion barrels of recoverable oil;
- The first prospect to be drilled is likely to be Pomboo in L-5 and the second possibly Sokwe in L-7;
- Both prospects have reservoir objectives in rocks of Cretaceous and Tertiary age which elsewhere in the world contain a large proportion of the world's known oil and gas reserves;
Hooray! We are saved! Honey, gas up my Hummer!
But today...Disappointment sets in over the ambitious exploration project.
But what about all those promising prospects and the several billion barrels of oil? Apparently it was a waste of time for Chikyu.
This precedes the decision by Woodside and its partners to call-off the second oil exploration venture in Kenya last month.
The first oil exploration costing 7 billion shillings that began in October last year failed to find oil or gas.
Comments
I understand "significant" to mean "so much that it's not a drop in the ocean compared to Saudi Arabia, Iraq, or Iran." which is good news as far as it goes.
But deposits capable of removing the peak to a distant future would have to be *far greater* than Saudi Arabia, Iraq, or Iran. So I'm never impressed by news of "significant" oil finds, even if they do deliver on their promises. Which as you say, they haven't, again.
Posted by: derek | February 17, 2007 10:37 AM
Since when did anecdote become a scientific form of argument? Deep Sea News would be much better off sticking to science.
Posted by: nick | February 22, 2007 6:07 PM
Nick thank you for your opinion. Which is just that. DSN is what it is. If you don't like, don't read.
Posted by: CR McClain | February 22, 2007 6:17 PM