Wrap-up on Guyana Petroleum Reserves Estimates

Introduction

This is a concluding or wrap-up column. It adopts an eclectic catch all approach to   the items covered but is devoted to the topic of petroleum resources and reserves, which was introduced to my Sunday Stabroek series four weeks ago. Its singular aim is to is to provide me the opportunity to offer readers a miscellany of brief comments that may afford them a greater understanding of the two concepts, which have been interrogated in this column series.

In my discussion of the two concepts of petroleum resources and petroleum reserves that has occupied the last four columns thus far, considerable light has been thrown on their sheer complexity and uncertainty. Remarkably also, these features persist even though industry specialists and associated professionals have been making great efforts, over recent years, to secure commonly agreed objective standards on an industry-wide basis.