Increased field decline on mature fields is becoming visible

June 02, 2016


Rystad Energy's latest analysis shows that, for the first time since the 1980s, we will have two consecutive years of decreased global E&P investments. A lot of the investment cuts have been related to new projects and shale drilling, but we have also observed lower activity on mature producing fields. This decreased activity is starting to show on the production side, with the decline rates starting to increase. Higher declines were observed for several of the major non-OPEC countries such as Russia, United States, Canada and Norway in 2014 and 2015. For 2016, the decline is expected to continue increasing and in terms of barrels, this represents a 700 kbbl/d increase in the yearly decline from the mature oil fields. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Read more about UCube

Article Contacts

Espen Erlingsen, VP Analysis
Phone: +47 24 00 42 00
espen.erlingsen@rystadenergy.com

Julia Weiss, VP Marketing
Phone: +47 48 29 87 61
julia.weiss@rystadenergy.com

About Rystad Energy

Rystad Energy is an independent oil and gas consulting services and business intelligence data firm offering global databases, strategy consulting and research products.

Rystad Energy’s headquarters are located in Oslo, Norway, with additional research teams in India. Further presence has been established in Norway (Stavanger), the UK (London), USA (New York & Houston), Russia (Moscow), Brazil (Rio de Janeiro), Africa as well as South East Asia.