BBOEBillions of Barrels of Oil Equivalent
BBOEBottom Bottom Opposite End (Radiator Piping Connection)
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That is based on a 90 per cent chance of recovery and the current state of play which is pegged at 14 bbo of oil and a total 60 bboe of oil and other energy products in the shale.
Although almost two and a half years have passed since officials announced that the massive Tupi discovery could contain 5-8 Bboe, Brazil's oil and gas industry is still digesting the news of the enormous reserves that could lie within the entire presalt layer.
This greenfield development has an estimated recovery in excess of 1 Bboe.
The Tupi hydrocarbon discovery is situated 250 km south of Rio de Janiero in block BM-S-11 of the Santos Basin and is estimated to hold 5-8 BBoe.
Asia accounts for 25% of Chevron's global resource base or 62 Bboe.
The result of doing this should lead to the recovery of the highest reserve estimates around 24 Bboe and maximum value generation for the economy.
In fact, SMT's recent survey of geoscientists indicates that nearly half of those surveyed believe that 5 BBOE or more will be extracted from Deepwater Africa in the coming years," said Ken Gardiner, VP of SMT's EAME Operations.
The unrisked prospective resources for unconventional reservoirs in the Arckaringa Basin are estimated by Gustavson to be 233 billion barrels of oil equivalent (bboe) and by DeGolyer and MacNaughton to be 103 bboe.