Subchapter 6.2 - Impact of modern exploration techniques in oil & gas reserves to production ratio

Abstract

This paper describes modern petroleum exploration techniques and examines their efficacy by comparing the reserves-accretion along with the reserves-to-production-ratio (RPR) using the data published by British Petroleum. Since the gas production and reserves figures were not seriously measured before the 1980s, as it was considered as a nuisance rather than an asset, only the data after 1980 were used in the analysis. A net increase in RPR from 21.87 to 51.45 years has been observed between 1980 and 2016 for the world, while the RPR shows a decline in the Indian Context (a developing economy), primarily because of the increase in consumption