production

To investigate the situation of conventional oil and gas, this paper examines the global oil and gas discoveries, proved reserves, production, consumption and price. All the influencing factors can be subjected to risk and opportunity analyses, so in the paper, we build upon a risk-opportunity analysis framework, which is a new train of thought. To forecast the peak time of oil and gas production, we used the methods of multi-Hubbert model forecasting and data forecasting. Our results showed that the world oil production will reach a peak between 2010 and 2015 and the gas production will reach a peak around 2030 Oil peak is coming and gas peak is on the way. The main purpose of forecasting oil and gas production peak is give people enough time for preparing mitigation and adaptation plans. This means taking decisive action well before the problem is obvious.

Published in: Petroleum Science, Volume 7, Issue 1, February 2010, Pages 136-146
Available from: SpringerLink

A probabilistic estimate of the global conventional recoverable oil resource was performed based on the concept of the Earth's sedimentary cover as a holistic system. A forecast for global oil production was made for the period till the end of the 21st century. It has been shown that the global oil production will most likely peak at 4.2–4.7 billion tons a year in 2020–2030. For that period, the top oil-producing regions in the world will be the Persian Gulf, West and East Siberia. The upstream sector at that time will turn its focus to the Arctic shelf. Annual oil production could be maintained at a level of 4.2–4.5 billion tons till the late 2040s.

Published in: Russian Geology and Geophysics, Volume 50, Issue 4, April 2009, Pages 237-242
Available from: ScienceDirect

Energy is essential for present societies. In particular, transportation systems depend on petroleum-based fuels. That world oil production is set to pass a peak is now a reasonably accepted concept, although its date is far from consensual. In this work, we analyze the true expectations of the oil market participants about the future availability of this fundamental energy source. We study the evolution through time of the curves of crude oil futures prices, and we conclude that the market participants, among them the crude oil producers, already expect a near-term peak of oil production. This agrees with many technical predictions for the date of peak production, including our own, that point to peak dates around the end of the present decade. If this scenario is confirmed, it can cause serious social and economical problems because societies will have little time to perform the necessary adjustments.

Published in: Energy Policy, Article in Press
Available from: ScienceDirect