The time in years from first production until 44% of the oil has been produced can be estimated using the production equation P = A.R and accounting for the constant production rate A of 0.00066 per day. Using the R/P ratio, after calculating the remaining reserves at 44% depletion and the daily production, we can solve for time and convert from days to years.
To calculate the time in years from first production until 44% of the oil has been produced, we use the given production equation P = A.R, where A is the production rate per barrel per day (0.00066 per day) and R is the initial reserve amount in barrels. To find the time, t, we need to first determine what fraction of the oil is left after 44% has been produced, which is (1 - 0.44) or 56%.
Since production P slows at this point, we can estimate that the time to produce 44% is roughly half the total time to deplete the reserve. The reserves-to-production ratio (R/P ratio) can be used as described in the given reference information.
Firstly, we set R ('the oil remaining after 44% is produced') equal to 56% or 0.56 of the initial reserves. To calculate the daily production at this point, we multiply the rate A by R, and then we solve for time using t=R/(A.R), and convert days to years by dividing by 365.
The mathematical calculation that follows assumes that production rate remains constant until 44% is produced, which is a simplification since the production rate would actually decline over time as resources become scarcer.