WASHINGTON - Today at 3:15 p.m., the Department of the Interior will hold a press call regarding a new world estimate for undiscovered, conventional oil and gas resources.
The U.S. Geological Survey assessment, released earlier today, estimates that the undiscovered, conventional resources in the world total 565 billion barrels of oil (bbo); 5,606 trillion cubic feet (tcf) of natural gas; and 167 billion barrels of natural gas liquids.
These numbers represent technically recoverable resources, which are those quantities of oil and gas producible using currently available technology and industry practices, regardless of economic or accessibility considerations.
The press briefing can be accessed by dialing 1-888-989-4719 and entering the code SCIENCE.
Press Conference: USGS World Estimate for Conventional Oil and Gas Resources audio recording.
Links and contacts within this release are valid at the time of publication.