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In 2022, it was estimated that the value of the already identified gas deposits was €700,000 million, plus €150,000 million for the oil; it was also predicted, that should exploitation begin in earnest, by 2040 the annual economic contribution would be of €44,400 million per year —larger than the GDP contribution of agriculture, or of ...
Pipeline-quality gas has an energy value slightly higher than that of pure methane, which has 10.47 kilowatt-hours per cubic metre (1,012 British thermal units per cubic foot). Natural gas as it comes out of the ground is most often predominantly methane, but may have a wide range of energy values, from much lower (due to dilution by non ...
Full field development may include up to 300 producing and injector wells, with total gross oil production reaching 1,000,000 barrels per day (160,000 m 3 /d) and 1 billion cubic feet (28 million cubic metres) of gas. [10] [12] The drilling of the first 15 wells has cost $1 billion. It is estimated that the total field cost will come to $50 ...
The El Orejano block, which (as mentioned above) YPF and Dow Argentina agreed to develop in 2013, was producing 750,000 cubic meters of shale gas (nearly 26 1/2 million cubic feet) daily from a total of 19 wells by December 2015; Dow and YPF agreed to invest another US$500 million in 2016 on top of the US$350 million already invested, and drill ...
At least 100 trillion cubic feet (2.8 trillion cubic metres) of it is economically viable to produce. [2] The EIA reports 2017 reserves at 11,878 billion cubic feet (BCF) or 11.878 trillion cubic feet, [3] which at a current market price of US $2.97 as of May 14, 2021, are worth approximately $36.2 Billion USD. [4]
There is some disagreement on which country has the largest proven gas reserves. Sources that consider Russia in possession of the world's largest proven reserves include the US CIA (47,600 cubic kilometers), [ 2 ] the US Energy Information Administration (EIA) (49,000 km 3 ), [ 3 ] and OPEC (48,810 km 3 ). [ 4 ]
The first discovery in state waters of offshore Alabama was made in 1979. By 2005 a total of 80 wells have been drilled in state water, and production in Alabama state water provided 154 billion cubic feet (4.4 km 3) per year, half the state's gas production. [23]
Map showing helium-rich gas fields and helium processing plants in the United States, 2012. From USGS. Helium production in the United States totaled 73 million cubic meters in 2014. The US was the world's largest helium producer, providing 40 percent of world supply. In addition, the US federal government sold 30 million cubic meters from storage.