Im curious if this means theyll actually have to tell us how much is really left in ghawar.
IMO this is a late game strategy because as it stands the market can't support profitable prices per barrel as the EROI on existing firlds declines.
This gives them a buffer of cash to wether the (hopefully actually physically possible) weaning of industrial society off of crude.
My bet is they try to structure it somehow so that the real proven reserves don't become public knowledge though , wouldn't bode well for them or us if the estimates were say , 20 years out or sooner.
IMO this is a late game strategy because as it stands the market can't support profitable prices per barrel as the EROI on existing firlds declines.
This gives them a buffer of cash to wether the (hopefully actually physically possible) weaning of industrial society off of crude.
My bet is they try to structure it somehow so that the real proven reserves don't become public knowledge though , wouldn't bode well for them or us if the estimates were say , 20 years out or sooner.