MIDDLE EAST

(Africa/Middle East)

 

 

POPULATION:  mm

AREA (on):  km2

OIL PEAK:  (forecast)

 

SUPPLY

After a drop in oil production in 2002 due to enforcement of OPEC quotas oil output from the Middle East grew substantially up to 2005 before further restrictions were initiated in 2006. Another production jump in 2008 is expected to be followed by three years of lower, but gently increasing, supply as much larger output cuts in late 2008 and 2009 unwind.

 

From 2011 production is forecast to see persistent growth, both onshore and offshore, flattening off by 2020. Onshore regions are seeing most quota restrictions and thus these will show the strongest growth.

Gas production is set to increase substantially; the majority coming from Qatar, Iran and Saudi Arabia, with Qatar's offshore North field and its Iranian part, the South Pars field, providing considerable volumes of this gas.

 

DEMAND

Growth in consumption of oil from 1996 to 2007 has now ceased with oil consumption liable to remain flat until 2017 when decline will begin as high oil prices restrain demand.

 

Conversely gas consumption is set to consistently grow as the region makes use of its gas wherever it can. Oil imports are steadily reducing whilst gas exports are showing strong growth mostly to satisfy North Asian markets.

 

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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