Word: bbl
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...made foundation for the plant. When the STP finally starts working in mid-1984, it will help Arco, Sohio and nine other oil companies get more oil out of their North Slope wells. Water will be drawn into the plant at a rate of as much as 2.2 million bbl. a day, deoxygenated and heated from the Beaufort Sea's 28° to 40°. Then it will be pumped to another plant ten miles away, there to be heated to 80° and sent through a maze of 35 pipelines to injection wells in the oilfield...
Forced into the ground, the water will help push oil to the surface, its low oxygen content ensuring that microorganisms do not grow to inhibit the oil flow. Currently, the wells produce 1.5 million bbl. daily. The STP-processed water will guarantee that an additional 1 billion bbl. can be extracted from the sandstone beneath the Beaufort Sea before production slacks off in the 1990s...
Like the nation itself, China's offshore oil deposits are enormous but somewhat mysterious. They are estimated to range in volume between 30 billion and 100 billion bbl., which would make them perhaps the equal of the North Sea field. But for technical and political reasons China cannot maintain production from its existing wells, much less develop these huge crude reserves by itself. Last year China signed a separate joint-development contract with Atlantic Richfield, which has already begun test drilling in a 3,500-sq.-mi. block off the coast of Viet...
...fine points of sand porosity and step-out drilling. If the Celtic Sea discovery proves to be a commercially exploitable field, which can be determined only through further tests, the first revenue would begin flowing in about four years. The output of even a modest field, about 100,000 bbl. a day, would eliminate Ireland's $1 billion annual oil-import bill and provide a much needed tonic for the country's depressed economy. Irish unemployment is approaching 15%, with no turnaround in sight. The government has created some new jobs by providing tax incentives to high-tech...
...standoff. Neither side has a strategic advantage that would allow a major offensive to bring decisive results. But despite large infusions of money and arms from Saudi Arabia and the gulf states, Iraq is suffering more than Iran. Tehran's oil production is currently running about 2.2 million bbl. per day, compared with a maximum of 700,000 bbl. per day pumped by Iraq. Iraq is so strapped for cash that it has been unable to pay for many essential imports...