As we have so many oil mines around the world, how large are these holes left behind, and what is put in place of the oil that is taken out. wouldn't the pressure be different? and what would happen if a oil cavern collapsed?
mrspeedybob said:Sounds like another good reason to drill off-shore. If a section of ocean floor subsided by a few meters I can't think of any reason anybody would care
The total amount of oil reserves in the world is estimated to be around 1.73 trillion barrels according to a 2021 report by the Organization of the Petroleum Exporting Countries (OPEC).
Saudi Arabia currently has the largest oil reserves in the world, with an estimated 266.5 billion barrels of proven oil reserves as of 2021.
The global oil production in 2020 was approximately 92.4 million barrels per day, with the top oil-producing countries being the United States, Saudi Arabia, and Russia.
Yes, new oil mines are still being discovered around the world, although at a slower rate than in previous decades. In 2021, Guyana and Suriname were found to have significant offshore oil reserves.
According to current estimates, the world's oil reserves are expected to last for the next 50-70 years, depending on the rate of consumption and discovery of new reserves.