Will the supply of the oil and gas run out?

Hi friends today i am discussing on the major source of energy “oil and gas” also termed as petroleum.
Petroleum products has been become vital need for us as they are used in major industries as transportation, lubricants, mechanical operations, etc.

there has been warnings from the big organizations like SPE(society of petroleum engineers) that oil will be soon be replenished. And we are looking for alternate sources for energy.

But the question “arise will the oil and gas will be run out”?
I am petroleum engineering student and have been doing research on it. And I found out:-

Only 18% of the total reserves have been found and 82% has still to be explored which produce oil. There is about 710 billion barrels of oil used from total of 3.6 trillion oil total.. and many of the oil is still to be found.

And in India there are are 26 petroliferous basins. Which can be distinguished into 4 sub types
First type is which is currently producing oil and oil reserves have been found they are: “Bombay high, kauveri basin, mehsana, assam, krishna godavari basin.

And the oil and gas are continuously forming from the cyclic process by decomposing plants and animals and as the oil is being exhausted and new oil is being formed..

So share your views on oil and gas future..!

Thank you
Nikhil ahuja