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GasBuddy News Article

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6 of the Largest Oil Fields in the World Still Waiting to be Developed

Oilprice.com -- For a variety of reasons there still exist many untapped oil fields in the world. Those reasons may be political, technological, geological, or economical; but as time goes on they are being resolved to the extent that some huge fields are now becoming available for exploration and production....

The Santos and Campos Basins in Brazil are estimated to contain 123 billion barrels of crude. They are a hot topic in the world of oil due to their size, and companies such as Chevron are keen to work on them. However their location, miles below the surface of the ocean and trapped beneath layers of salt, makes extracting the oil very difficult.

The Orinoco Belt in Venezuela is estimated to contain 513 billion barrels of oil. However western companies have been pulling out of the region despite


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Submitted Aug 02, 2012 By: leemun
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: 6 of the Largest Oil Fields in the World Still Waiting to be Developed Back to Topics
REPLIES (newest first) Post a Reply
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honda0105
Champion Author Tallahassee

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Message Posted: Aug 5, 2012 8:33:09 AM

lots of koolaid drinker posts, as usual on such subject.
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sparky808
Champion Author Honolulu

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Message Posted: Aug 3, 2012 1:34:05 PM

Thank you for posting.
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polarbear2
Champion Author Maine

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Message Posted: Aug 3, 2012 12:04:15 PM

Open you mind Tustindad. Think out of the box instead of taking every study as truth.
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nd73
Champion Author Grand Rapids

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Message Posted: Aug 3, 2012 10:16:39 AM

Left up to Obama, those fields will never be touched.
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TustinDad
Champion Author Orange County

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Message Posted: Aug 3, 2012 12:23:28 AM

HypermilinJeff wrote: "It seems to me we're sucking the Earth dry... when will it run out?"

Believe it or not but there are "smart" people here who believe we will never run out since "oil is still being created". Apparently in such quantities that we don't have to worry about it ever running out. That has to be right up there with Intelligent Design, another "neither" phrase just like "Moral Majority".
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J4romeo
All-Star Author Gary

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Message Posted: Aug 3, 2012 12:19:30 AM

As price of oil goes up, we here stories like this..:(
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rahcat
Champion Author Grand Rapids

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Message Posted: Aug 3, 2012 12:15:27 AM

If the jerk Obama would let us develope our resources, we would not have to depend on OPEC or any other supplier.
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us4usa
Champion Author Missouri

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Message Posted: Aug 3, 2012 12:11:35 AM

Oil is here to stay...
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WIPACKERFAN
Champion Author Chicago

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Message Posted: Aug 3, 2012 12:05:19 AM

What are we waiting for?
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DustyHorse
Champion Author Virginia

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Message Posted: Aug 2, 2012 11:58:48 PM

Take that peak oil proponents.
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GigHarborHound
Champion Author Tacoma

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Message Posted: Aug 2, 2012 11:58:32 PM

OK!!
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VanIsleLes
All-Star Author British Columbia

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Message Posted: Aug 2, 2012 11:57:03 PM

Makes it tricky ...
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bonzoonfmb
Champion Author Florida

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Message Posted: Aug 2, 2012 11:56:44 PM

No matter where or when the supply of oil comes out of the ground it will go to the highest bidder on the open marketplace and will not bring down the U.S. domestic price of gasoline.
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CdnLynx
Champion Author Ontario

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Message Posted: Aug 2, 2012 11:55:51 PM

Proves leaving it in the ground only increases oil prices and gasoline future on world markets. Manipulation!
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DEG
Champion Author Las Vegas

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Message Posted: Aug 2, 2012 11:54:24 PM

The US should be developing more of the oil in its known reserves.
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craigsf38
Champion Author Rochester

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Message Posted: Aug 2, 2012 11:50:15 PM

Lets go for it NOW
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30mpg80
Champion Author Lexington

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Message Posted: Aug 2, 2012 11:48:45 PM

We can develop those after 2100
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bigoilscamsus
Champion Author Lansing

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Message Posted: Aug 2, 2012 11:48:30 PM

Protest high gas prices--any gas over $2.50 per gallon!! picket the 15 highest priced gas stations in your area!!
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mstearno
Champion Author Dayton

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Message Posted: Aug 2, 2012 11:47:38 PM

brazil
the new king
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chicoCA
Champion Author California

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Message Posted: Aug 2, 2012 11:45:08 PM

okay
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oldiesman
Champion Author New York

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Message Posted: Aug 2, 2012 11:44:31 PM

Good for them.
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vibdata
Champion Author Massachusetts

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Message Posted: Aug 2, 2012 11:40:17 PM

I would think they are waiting for higher prices so they could make ridiculous fortunes.
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streetcars
Champion Author Toledo

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Message Posted: Aug 2, 2012 11:39:04 PM

OK!
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mmadsen05
Sophomore Author Tacoma

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Message Posted: Aug 2, 2012 11:38:41 PM

ok
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speedys
Champion Author Utah

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Message Posted: Aug 2, 2012 11:35:52 PM

We can't refine all the oil we got in storage.
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mcmonsta
Champion Author Honolulu

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Message Posted: Aug 2, 2012 11:35:00 PM

many ways to fix it but a lot of peace mongers would go beserk
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firefly09
Champion Author San Diego

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Message Posted: Aug 2, 2012 11:34:33 PM

I agree with kelly1016.
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kelly1016
Champion Author Victoria

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Message Posted: Aug 2, 2012 11:33:46 PM

More oil everywhere.
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knot2swift
Champion Author Calgary

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Message Posted: Aug 2, 2012 11:33:42 PM

Seems only the Orinoco Belt seems big enough not to be considered "Small Fry".

The world uses 80 million barrels a day these days. So what is a billion barrels? 12 1/2 days worth!
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paulydel
Champion Author Delaware

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Message Posted: Aug 2, 2012 11:32:56 PM

When the money is right? I think its way past that.
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davenles
Champion Author Texas

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Message Posted: Aug 2, 2012 11:30:18 PM

They will develop them when the money is right.
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OGW
Champion Author London

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Message Posted: Aug 2, 2012 11:26:10 PM

There are some places where drilling should not ever be allowed regardless of how much oil is beneath the surface.
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jimedB
Champion Author Riverside

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Message Posted: Aug 2, 2012 11:24:17 PM

Lets just hope we don't go to some of the other countries oil fields and get them set up and get kicked out so they can get all the profits without having to spend the start up money.
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btsom
Champion Author Oklahoma City

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Message Posted: Aug 2, 2012 11:23:33 PM

This would be good news if it can be developed. It would help lower the world price of oil. We still wouldn't have to buy from anyone else if the Obstructionist in Chief would get out of the way. Whether he admits it or not, he and his energy secretary still want gas at $6 to $10 a gallon to force us all into Volts. I guess when we all die from the house fires started by the Volts, that would fix the Social Security and Medi-care problems at the same time. Perhaps Obama is smarter than I thought.
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FrankTA2
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Message Posted: Aug 2, 2012 11:22:19 PM

Excellent!!!
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dulberg
Veteran Author Long Island

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Message Posted: Aug 2, 2012 11:21:45 PM

K
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RevDrCBJ
Veteran Author Ann Arbor

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Message Posted: Aug 2, 2012 11:20:16 PM

Fancy That!'
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JettaKnight
Champion Author Toronto

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Message Posted: Aug 2, 2012 11:12:59 PM

walkingtall
Toronto
"They're waiting for gas prices to reach 5 dollars a gallon."

We've already paid $1.35 per litre. That's over $5 per gallon. Premium sells for $1.38 - $1.40+. When regular get to that range, premium will be closing-in fast on $6.
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fenster66
Champion Author Pittsburgh

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Message Posted: Aug 2, 2012 11:12:55 PM

ok...
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Is246
Champion Author Albuquerque

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Message Posted: Aug 2, 2012 11:12:36 PM

Nice!
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5Golfer8
Champion Author Tucson

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Message Posted: Aug 2, 2012 11:10:13 PM

I'm sure that Obama will give it too China or some other foreign company.
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skybiker
Champion Author South Carolina

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Message Posted: Aug 2, 2012 11:06:59 PM

Don't forget the Haifa field offshore in Israel...Bigger that the Saudis...
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DandyDapple
All-Star Author North Dakota

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Message Posted: Aug 2, 2012 11:04:27 PM

hmmm
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wayoung56
Champion Author Alabama

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Message Posted: Aug 2, 2012 11:02:24 PM

What else is new???
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me2002
All-Star Author Toledo

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Message Posted: Aug 2, 2012 11:02:04 PM

Sitting there going to waste.
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camel1
Champion Author Minnesota

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Message Posted: Aug 2, 2012 11:01:39 PM

ok
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bvrbill
Champion Author Eugene

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Message Posted: Aug 2, 2012 11:01:32 PM

Until Big Oil needs to develop them, they won't be.

[Edited by: bvrbill at 8/2/2012 11:02:56 PM EST]
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HypermilinJeff
Rookie Author Dallas

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Message Posted: Aug 2, 2012 11:01:12 PM

It seems to me we're sucking the Earth dry... when will it run out?
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aggietim
Champion Author Fort Worth

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Message Posted: Aug 2, 2012 10:56:06 PM

hmm
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walkingtall
Champion Author Toronto

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Message Posted: Aug 2, 2012 10:49:47 PM

They're waiting for gas prices to reach 5 dollars a gallon.
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