Global conventional oil resources represent around 1,640 billion barrels of oil equivalent, according to an estimate by French oil major Total SA (TOT), its director for exploration and production Yves-Louis Darricarrere said Thursday.
Global conventional oil resources represent around 1,640 billion barrels
of oil equivalent, according to an estimate by French oil major Total SA (TOT),
its director for exploration and production Yves-Louis Darricarrere said
Thursday.
Speaking in an energy conference in
Paris
,
Darricarrere said that global conventional natural-gas resources were estimated
at around 1,250 billion barrels of oil equivalent. As for unconventional
sources, such as shale oil and gas, and tight oil, Darricarrere said that gas
resources are estimated at 2,500 billion barrels of oil equivalent while oil
resources are seen at 2,350 billion barrels of oil equivalent.
Last year, around $60 billion was invested in unconventional gas, mostly in
North
America
, Darricarrere noted, adding that the emergence of non-conventional energy
resources has contributed "to reshuffle the distribution of world
resources."
International oil companies such as Total and national oil companies have been
competing to get their share of unconventional hydrocarbons, he said, yet noted
that most of the time, companies actually partner.
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