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Energy Watch Oil Report

Energy Watch Oil Report

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Published by: teembill on Mar 26, 2011
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Oil production in OECD Europe has peaked around 2000, see Figure 35. This was already

confirmed in the IEA reports WEO 2004, and WEO 2006. Probably production in 2015 will

be down by about 50% compared to 2005 production. The peak of European oil production in

2000 marked a turning point insofar as the largest oil province found in the last 50 years

experienced peak. At peak level, the region contributed about 40% to the world offshore

production – the only area where production still is growing. However, this peak reduced the

global growth rate and coincided with the peak of the oil production outside former Soviet

Union countries and outside OPEC countries.

Figure 35: Oil production in OECD Europe

1970

1980

1990

2000

2010

2020

2030

2

4

6

8

10

O

il production in [M

b/d]

2

4

6

8

10

Legend

Rest Europe

Denmark

UK

Norway cond

Norway-NGL

Norway

WEO 2006

Norway

UK

WEO 2004

2006

Crude Oil – the Supply Outlook

2008/02/11 LBST

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