Resource Estimates (more...)
| Current petroleum estimates are based on the
geological knowledge of the offshore basins. Due to the limited
number of surveys done in the Queen Charlotte Basin (QCB), estimates
are still considered highly speculative. The amount of oil or gas
present depends on several geological variables including abundance
of source rocks (see Stratigraphy) and the size and number of
potential reservoirs. Using statistical methods to incorporate each
variable, a logarithmic curve is generated showing the amount of
oil and gas present as a function of probability, or likelihood that
such an amount would exist (from 0 to 100%). The higher the probability,
the lower the estimated amount, and vice-versa. The value usually
chosen to represent a basin is the median or 50% probability. |
| Offshore Oil & Gas
Potential |
- median estimates for offshore resources in the QCB
by the Geological Survey of Canada are 9.8 billion barrels of oil and
25.9 trillion cubic feet of gas (Hannigan et al., 1998) |
| |
- the amount of this that could likely be recovered is estimated
at 1.3 billion barrels of oil and 9.8 trillion cubic feet of gas |
|
- this is similar in size to the Jeanne d'Arc basin offshore of
Newfoundland |
| |
- complicated geology and other anticipated exploration risks mean
that these estimates are only very preliminary; more seismic data and
numerous exploration wells would help yield a more accurate estimate
of how much oil and gas could likely be recovered from the QCB
|
Further Details
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