Personally, I find the peak oil theory interesting, and it has to be considered, but I think that the doomsday scenario many speaks of is way off. The North Sea may well have enough oil to supply us for a century to come.
From www.statoil.com:
New oil find in Sleipner area
A new oil discovery has been made by Statoil in the Ragnarrock prospect near the Sleipner area in the North Sea.
“It is encouraging that Statoil has made an oil discovery in a little-explored exploration model that is close to our North Sea infrastructure,” says Frode Fasteland, acting exploration manager for the North Sea.
The find was made in exploration well 16/2-3 in production licence 265, which lies 35 kilometres east of the Statoil-operated Gudrun discovery.
“The oil was proven in Cretaceous rocks with complex reservoir conditions,” says Mr Fasteland.
“Together with our partners in the licence we have therefore decided to drill the appraisal well 16/2-4 in the structure when the first well is completed.”
Statoil has carried out an extensive compilation of data and taken samples which will be analysed.
The well was drilled to a total depth of 1,856 metres below sea level. The water depth in the area is 113 metres. The exploration well is now being permanently plugged and abandoned by the West Epsilon jack-up rig.
This is the fifth exploration well drilled by West Epsilon for Statoil this year and hydrocarbons have been proven in all of the wells.
The licensees are Statoil, operator, with 30%, Petoro (30%), Den norske Oljeselskap ASA ( 30%) and Talisman (10%).
Published 17.09.2007 09:30:00
Copyright © Statoil.
Actually, even with new finds, total North Sea output is in decline. Even under a peak oil scenario, with total oil production falling, new supplies must be found to replace fields that are depleted. The question is not whether we discover new oil. We must. The question is whether the capacity of newly found reserves is replacing the capacity of depleted reserves.
You mean to tell me that the oil was less than six feet in the ground!!!! That hole must have taken a whole ten minutes to drill!! Yes it was in deep water, but still!
I just read on Elijah List, a prophecy that says God is digging the old wells in Norway that affected England so many years ago. That means wells of revival, but I believe when God does something spiritually, He also does it physically, such as new wells found off the coast of our dear Norway. Interesting. God has good things planned for Norway.