50-100 years?
Sounds an accurate assessment to me.
It depends entirely on the oil price - sorry I should be more clear. A neither conservative or optimistic value is 100 years, but to get that full production the oil price would have to be favourable to make it economical to recover some of the reserves. Basically, if the oil price stayed as it is now, it would be nearer 50 years - if it goes up (which, of course it will)... then we can recover far more.
Hope that's clearer.
£1.5 trillion?
Sounds impressive, what fraction of that in tax revenue will Scotland actually get seeing as it will be foreign companies with shareholders actually drilling the stuff. (FYI that figure is unknown also.)
Well at the moment we don't get any... so anything is a bonus. I believe the SNP will lower corporation tax but also start an oil fund for Scotland so we will really see the benefits of having this huge resource. We are a country of 5 million with 1.5 trillion in oil - HOW the hell do we have such poverty? Oh yeah... thanks Thatcher.
Funny, because so does my brother, and he says there aren't, and not worth anywhere near that. Who to believe?
No offence to you, or your brother but what does he do? Is he a rigger with an opinion? Because if so he won't know the full story.
I work in a consultancy who offer reserves estimates to every major North Sea operator. I physically KNOW what they are drilling, planning and what is out there. So, I'm sorry - but your brother is wrong.