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Table 8 Breakeven prices for oil

From: The role of natural gas as a primary fuel in the near future, including comparisons of acquisition, transmission and waste handling costs of as with competitive alternatives

Oilfields/sources

Estimated production costs ($ 2008)

Mideast/N. African oilfields

6 - 28

Other conventional oilfields

6 - 39

CO 2 enhanced oil recovery

30 - 80

Deep/ultra-deep-water oilfields

32 - 65

Enhanced oil recovery

32 - 82

Arctic oilfields

32 - 100

Heavy oil/bitumen

32 - 68

Oil shales

52 - 113

Gas to liquids

38 - 113

Coal to liquids

60 - 113

  1. Source: “Oil Price Predictions and Breakeven Prices”, Richard Shaw, Seeking Alpha, December 25 2007