Rystad Energy estimates that liquid resources from mature assets grew 151 billion barrels over the last four years, which is almost 17 percent more than the amount produced in those years. This brings the total remaining liquid resource count to 1.227 trillion barrels as of year-end 2017. Of the 151 billion increase, 68 billion barrels are from conventional onshore fields, 43 billion barrels are from shale, while offshore resources have grown by 40 billion barrels. For conventional onshore, a large part of the growth is driven by Saudi Arabia. Increased infill drilling and better investment terms have lifted the estimate for the remaining resources in the country. For shale, the growth is primarily driven by better well performance and more target benches in the Permian basin. The offshore uplift is driven by the Middle East, Russia and Europe. “Growth in mature fields can be driven by many factors, such […]