World Oil Reserves

offshore oil mining

Oil is a world of human needs. Moreover, the current ongoing civil war that occurred in Libya which are highly influential impact of soaring world oil prices. Will automatically affect all areas of human life. Currently, all state racing - the race to get oil in various ways, especially countries - big countries in the world. without exception, including countries - developing countries trying to do research in order to exploit the oil wealth in his country. As one developing country with a population of Indonesia is quite high. After doing the research estimated the Indonesian state has the largest reserves in the world that is almost reached 320, 79 billion barrels. This figure is considered to be quite fantastic by experts.

In research done in the territorial waters of Aceh. These findings were found in the fore arc basin after a seismic survey in waters west of Aceh at a depth of 500-800 meters from the sea floor which had a depth of 1,100 meters, find the estimated volume of reserves of between 17.1 to 10 billion cubic feet. "When the known reserves of 6.29 cubic meters a barrel, the minimum total volume is 107.5 billion barrels and a maximum volume of 320.79 billion barrels. If indeed realized the Indonesian oil reserves exceed the state of Saudi Arabia which has oil reserves of 264, 21 billion barrels.

Oil is a source of energy that is still difficult to be replaced by other energy sources, despite the discovery of many other energy sources such as nuclear, biofuels and so forth. There are recent data that mention in the span of years 2005 - 2030 estimated oil demand will grow by 1.4% per year. Predicted growth rates are compared with a growth rate of other energy sources such as gas, is still lower. But, in proportion to the use of oil as an energy in the world, still much larger than other energy sources. So obviously still be a Prima Donna petroleum world energy use. According to data from the World Economic Review, 2007, Prior Statistics 2008 states for transportation and industrial sector became the biggest contributor to world oil demand to average growth of 1.2% per year until 2030. The notes are the countries in the Asia-Pacific and South Asia provides the largest share of 58% of the total increase in world oil demand. In view of the region are developing countries with huge populations such as Indonesia, India, Vietnam, as well as developed countries such as China's oil consumption ranks third in world