The Scottish Referendum 2014
Scottish oil and natural gas will last for well over one hundred years
MONDAY, 11 MARCH 2013 03:06
63 COMMENTS
By William C McLaughlin BA(Hons), MBA
Let's dispel once and for all the myth that Scottish oil and natural gas reserves are declining and will run out for good in another forty years.
The Scottish North Sea has been 'pumping' out oil and natural gas for around forty years. The current projection is that there is around forty years of oil and natural gas reserves remaining in the Scottish North Sea, worth around £1 trillion in associated revenues.
ENEGI OIL has developed an innovative, unmanned, oil production buoy system, which will transform the economics of a host of undeveloped discoveries in the Scottish North Sea, and could be used effectively in marginal and end of life fields to extend the life of these fields considerably. Extraction technology like this one could well extend significantly the life of the Scottish North Sea for another ten or twenty years (well beyond the forty years forecasted limit), giving a total oil and natural gas production life for the Scottish North Sea of close on one hundred years since the time extraction began.
Then, we have the massive Scottish North Atlantic sector oil and natural gas fields, off Scotland`s west coast, which is predicted to contain two or three times the amount of oil and natural gas as the Scottish North Sea sector. The Scottish 'Atlantic Frontier' for oil and natural gas goes way out beyond Rockall. London has earmarked over 2500 licensing blocks for sale in the Scottish North Atlantic sector.
Assuming oil and natural gas extraction rates in the Scottish North Atlantic sector will be similar to the Scottish North Sea, then it will take a very long time indeed to empty the Scottish North Atlantic sector of oil and natural gas. If it takes around 100 years to deplete the Scottish North Sea of oil and natural gas, and the Scottish North Atlantic sector is two or three times
MONDAY, 11 MARCH 2013 03:06
63 COMMENTS
By William C McLaughlin BA(Hons), MBA
Let's dispel once and for all the myth that Scottish oil and natural gas reserves are declining and will run out for good in another forty years.
The Scottish North Sea has been 'pumping' out oil and natural gas for around forty years. The current projection is that there is around forty years of oil and natural gas reserves remaining in the Scottish North Sea, worth around £1 trillion in associated revenues.
ENEGI OIL has developed an innovative, unmanned, oil production buoy system, which will transform the economics of a host of undeveloped discoveries in the Scottish North Sea, and could be used effectively in marginal and end of life fields to extend the life of these fields considerably. Extraction technology like this one could well extend significantly the life of the Scottish North Sea for another ten or twenty years (well beyond the forty years forecasted limit), giving a total oil and natural gas production life for the Scottish North Sea of close on one hundred years since the time extraction began.
Then, we have the massive Scottish North Atlantic sector oil and natural gas fields, off Scotland`s west coast, which is predicted to contain two or three times the amount of oil and natural gas as the Scottish North Sea sector. The Scottish 'Atlantic Frontier' for oil and natural gas goes way out beyond Rockall. London has earmarked over 2500 licensing blocks for sale in the Scottish North Atlantic sector.
Assuming oil and natural gas extraction rates in the Scottish North Atlantic sector will be similar to the Scottish North Sea, then it will take a very long time indeed to empty the Scottish North Atlantic sector of oil and natural gas. If it takes around 100 years to deplete the Scottish North Sea of oil and natural gas, and the Scottish North Atlantic sector is two or three times