The global oil industry spent $3.5 Trillion, or $500 billion per year on average, for 2006 to 2012 inclusive of upstream (exploration and production) costs. ��
For 2006 to 2012 inclusive, global "actual crude oil" production averaged 73.7 mbpd, versus 73.6 mbpd in 2005. �� So it took $3.5 TRILLION DOLLARS of exploration expense�� to increase average daily oil production by 100,000 bpd. That is $35 MILLION dollars for each barrel of daily production increase. Source: ASPO-USA -- You received this message because you are subscribed to the Google Groups "Everything List" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. Visit this group at http://groups.google.com/group/everything-list. For more options, visit https://groups.google.com/groups/opt_out.
