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Oil megaprojects are large oil field projects.
A series of project tabulations and analyses by Chris Skrebowski, editor of ''Petroleum Review'', have presented a more pessimistic picture of future oil supply. In a 2004 report, based on an analysis of new projects over , he argued that although ample supply might be available in the near-term, after 2007 "the volumes of new production for this period are well below likely requirements." By 2006, although "the outlook for future supply appears somewhat brighter than even six months ago", nonetheless, if "all the factors reducing new capacity come into play, markets will remain tight and prices high. Only if new capacity flows into the system rather more rapidly than of late, will there be any chance of rebuilding spare capacity and softening prices."
The smallest fields, even in aggregate, do not contribute a large fraction of the total. For example, a relatively small number of giant and super-giant oilfields are providing almost half of the world production.
Summary of megaprojects
Megaprojects predicted for individual years
Application to oil supply forecasting
A series of project tabulations and analyses by Chris Skrebowski, editor of ''Petroleum Review'', have presented a more pessimistic picture of future oil supply. In a 2004 report, based on an analysis of new projects over , he argued that although ample supply might be available in the near-term, after 2007 "the volumes of new production for this period are well below likely requirements." By 2006, although "the outlook for future supply appears somewhat brighter than even six months ago", nonetheless, if "all the factors reducing new capacity come into play, markets will remain tight and prices high. Only if new capacity flows into the system rather more rapidly than of late, will there be any chance of rebuilding spare capacity and softening prices."
The smallest fields, even in aggregate, do not contribute a large fraction of the total. For example, a relatively small number of giant and super-giant oilfields are providing almost half of the world production.
Decline rates
The most important variable is the average decline rate for Fields in Production (FIP) which is difficult to assess.See also
*Energy law
Energy laws govern the use and taxation of energy, both renewable and non-renewable. These laws are the primary authorities (such as caselaw, statutes, rules, regulations and edicts) related to energy. In contrast, energy policy refers to th ...
* List of largest oil fields
*Giant oil and gas fields
The world's 932 giant oil and gas fields are considered those with of ultimately recoverable oil or gas equivalent. Geoscientists believe these giants account for 40 percent of the world's petroleum reserves. They are clustered in 27 regions o ...
* List of Russian megaprojects
References
Further reading
* {{DEFAULTSORT:Oil Megaprojects Oil fields