Question

Petroleum present in sedimentary rocks of a region can only be used when such regions are drilled out and put into use. Such petroleum reserves fall under the category of _____________.

• A. Actual resources
• B. Potential resources
• C. Stock resources
• D. Reserve resources

Answer 1

The Correct Option is B

To determine which category petroleum reserves fall under in this scenario, we need to understand the definition of each type of resource:

• Actual resources: These are resources currently in use. They have been surveyed, and their quantity and quality have been determined.
• Potential resources: These are resources that are not currently in use but could be utilized in the future. They are known to exist in a region and have the potential to be profitably extracted once necessary technology or economic conditions develop.
• Stock resources: Resources that have been surveyed but cannot be used due to the lack of technology or profit-driving factors.
• Reserve resources: Part of the stock that can be profitably extracted with available technology at the current price levels.

Petroleum present in sedimentary rocks which has not been drilled out or used corresponds to resources whose utility is acknowledged but not yet realized. Thus, it is categorized as potential resources because:

• Its existence is known.
• It has not been extracted or used yet.
• It may be used in the future once certain conditions, such as technological advancement, are met.

The correct choice is Potential resources. 

Answer 2

The petroleum reserves described fall under the category of Potential resources.

Additional Context:

• Resource Classification:
  • Potential Resources:
    • Exist in a region but not yet utilized
    • Require technological/economic feasibility for extraction
    • Example: Undrilled petroleum in sedimentary rocks
  • Other Categories:
    • Actual Resources: Surveyed and currently exploited (e.g., active oil fields)
    • Stock Resources: Technologically inaccessible currently (e.g., methane hydrates)
    • Reserve Resources: Subset of actual resources that can be profitably extracted
• Petroleum Specifics:
  • Forms in source rocks under heat/pressure over millions of years
  • Must migrate to reservoir rocks to be recoverable
  • Becomes "actual" only after discovery and development
• Economic Considerations:
  • Potential → Reserve transition depends on:
    • Extraction technology advancement
    • Market prices and production costs
    • Government policies
• Global Examples:
  • Potential: Arctic offshore deposits
  • Actual: Saudi Ghawar Field
  • Reserves: Economically viable portions of actual resources

Correct Answer: (2) Potential resources.