More oily questions?

Question

as before i have something more about this fuel thing to ask . once here in Malta they said that we have a posssibility of finding oil ,but for no apparent reason i still don't know what's happened /

Answer 1

There may be oil under many parts of the world, including and offshore malta. However the question is, "is the oil commercially viable"

Is the amount of oil, purity of oil, and the pourosity of the rock enough to make oil flow for many years? Is it worth building a pipeline and a refinery?

If the cost of the infrastructure is more than the net worth of the oil, then no oil company will bother drilling for it.

So yes there may be oil under Malta, but it might not be worth getting.

Answer 2

The big issue with oil these days is that huge reserves are known and "banked" by companies and countries.  In some cases they keep the reserve closed until the price is right at some time in future to drill down and exploit the field.  In other cases they wait for developing technology which promises to make the exploitation cheaper and more efficient.  Developments in directional drilling have allowed many oil reserves to be tapped from quite a distance away.  In the case of Malta you have mentioned a problem in your question.  Who does the reserve halfway between Libya and Malta belong to?

Answer 3

It's difficult to find deposits. Some can be buried very deep.