EUROPEAN UNION

 

POPULATION:  mm

AREA (on):  km2

OIL PEAK:  (forecast)

SUPPLY

European Union oil production, almost all from the North Sea, began to permanently decline in 2000. This decline will continue despite new initiatives to promote exploitation of smaller fields offshore the UK. The onshore oil production areas of Europe are near exhaustion.

Gas production was flat from 1980 to 1990, but rose in the 1990s as the UK expanded its output and as new members joined. However it is now declining everywhere and this trend is expected to continue.

 

DEMAND

The European Union is forecasting declining oil demand as environmental legislation begins to have an effect on transport and power policy, and as fuel substitution advances.

 

The acquisition of a reliable long term gas supply is a challenge for European Union members whilst indigenous gas supplies decline. Imports from North Africa, the Middle East and, eventually, by pipeline from Central Asia will all expand as the region looks to increase its options away from too much reliance on Russian piped gas.

 

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

 

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this region can be commissioned,

including all relevant charts. Contact us for price and contents list.

 

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