TABLE OF CONTENTS The preceding chapters described and discussed the elements of petroleum geology: from its generation and migration, to its entrapment in reservoirs, distribution in basins, and dissipation and degradation at the surface. This chapter considers how these concepts can actually be applied to petroleum exploration and production and reviews the global distribution of reserves and their future supply and demand.
As noted in Chapter 1, many years passed before geology was applied to petroleum exploration, and even now its relevance is occasionally questioned. In particular, several studies purport to show that oil could be found in a new area by drilling wells at random rather than by the application of science. Harbaugh et al. (1977) have reviewed many such studies.
Regarding the random approach to petroleum exploration, three comments are appropriate. First, one should recall the statistician who was drowned trying to cross a river with an average depth of 1 m. Second, one should note that the success of random drilling is likely to increase in proportion to the percentage of productive acreage in a basin (Fig. 10.1). Thus almost anyone (even in a hurry) could find oil in parts of Texas and Oklahoma, but might be less fortunate in offshore Labrador. Petroleum exploration has been likened to betting on horses. One can either pick a name at random or study the racing form. Similarly, drilling locations may be picked at random or by the application of geology in an attempt to reduce the odds.
