Reserves
Reservoirs
Resources
Traps
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Answer is Wrong!
The correct answer is: B. Reservoirs
Oil reserves are the amount of oil that is estimated to be economically recoverable from known oil fields. They are calculated based on geological and engineering data, as well as economic factors.
Oil resources are the total amount of oil that is estimated to exist in a given area. This includes both reserves and oil that is not yet technically or economically feasible to extract.
Oil traps are geological structures that trap oil and prevent it from flowing away. They are typically formed by folds or faults in the Earth’s crust.
Here is a more detailed explanation of each option:
- Reserves are the amount of oil that is estimated to be economically recoverable from known oil fields. They are calculated based on geological and engineering data, as well as economic factors. Reserves are typically divided into three categories: proven, probable, and possible. Proven reserves are the oil that is known to exist and can be recovered with reasonable certainty. Probable reserves are the oil that is likely to exist and can be recovered with a high degree of confidence. Possible reserves are the oil that may exist and can be recovered with a lower degree of confidence.
- Resources are the total amount of oil that is estimated to exist in a given area. This includes both reserves and oil that is not yet technically or economically feasible to extract. Resources are typically divided into three categories: undiscovered, technically recoverable, and economically recoverable. Undiscovered resources are the oil that is estimated to exist but has not yet been found. Technically recoverable resources are the oil that can be recovered with existing technology. Economically recoverable resources are the oil that can be recovered at a profit.
- Traps are geological structures that trap oil and prevent it from flowing away. They are typically formed by folds or faults in the Earth’s crust. Traps are essential for the formation of oil fields, as they provide a place for the oil to accumulate.