Oil is the "blood" of modern industry and it is a non-renewable strategic resource. There are always experts predicting that within a few years, petroleum resources will be exhausted. However, there is always good news.
Recently, the United Kingdom has discovered such a huge oil field. The British Petroleum and Natural Gas Investment Company discovered a shale oil reserve with a reserve of more than 8 billion barrels in the commuting zone near London Gatwick Airport. It is estimated that the Horse Hill oil field in the Weald Basin in south London has 158 million barrels of oil per square mile. According to its area of â€‹â€‹55 square miles, the oil field has an oil reserve of 8.69 billion barrels, and the entire land area of â€‹â€‹southern England has pages. Rock oil reserves may be as high as 100 billion barrels, which may be the largest land-based oil resource that Britain has discovered in the past 30 years.
What does this 100 billion barrels of oil mean? The CEO of the company, Stephen Sanderson, said that the above reserves are equivalent to more than double the oil production in the UK's North Sea subsea oil field over the past 40 years, which is likely to be the last 30 years The discovery of the largest oilfield in the United Kingdom, this finding may be able to effectively curb the growth of British oil imports, improve British energy security and maintain the balance of international payments.
However, despite the abundant reserves, there is not much crude oil actually extracted.
The company stated that according to past experience of similar oilfields in the United States and Russia, due to technical and economic conditions, these oil resources have underground storage depths of between 2,500 ft and 3,000 ft (762 m and 914 m), of which the rate can be developed. It is 3% to 15%. This means that by 2030, oil production in this region will be able to meet 10% to 30% of the oil demand in the UK.
BP has predicted that if it can successfully remove 15% of the oil that can be mined, it can obtain about 15 billion barrels of crude oil, which is equivalent to the existing oil reserves of Beihai Oil Field. If the current market price is used, the value will reach 600 billion pounds (about 5.4). Trillion yuan.
According to statistics, in 2014 Chinaâ€™s domestic oil consumption was about 508 million tons. In other words, the UK's discovery of a giant oil field can roughly satisfy China's 28 years of oil consumption [100 billion barrels divided by (508 million tons/year x 7 barrels/ton)].
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