ABSTRACT
In the world of expensive oil, many of these methods become profitable, which leads to increasing recovery factors and faster production from old fields. EOR methods include pumping water, carbon dioxide or natural gas into a field to help increase its pressure. Unconventional oil includes oil sands, shale oil, and kerogen oil. Other substitutes for conventional oil can be synthesized from other hydrocarbons such as coal, natural gas, and biomass. The one used on a commercial scale today is Fischer-Tropsch synthesis (FT) that can turn virtually any hydrocarbon into liquid fuel, albeit expensively. The majority of deepwater oilfields are concentrated within the so-called Golden Triangle. There are a host of definitions for Arctic oil, but one of the common definitions is oil north of the 60°; latitude. Shale oil, or more accurately light tight oil (LTO), is a good example of how technology and high prices bring new oil to the markets.
