NORTHWEST EUROPE

(Western Europe)

 

POPULATION:  mm

AREA (on):  km2

OIL PEAK:  (forecast)

SUPPLY

North Western European oil and gas production, almost all comes from the North Sea and Norwegian Sea. Oil production began to decline in 2000. This decline will continue despite new initiatives to promote exploitation of smaller, commercially marginal, fields and a surge in activity in 2007/2008.

Gas production continues to grow after a brief decline in 2007, primarily from Norwegian waters, but total gas output is also expected to peak within five years.

 

DEMAND

Oil demand growth has been reversed by higher prices, the 2008/2009 recession and the influence of environmental concerns but imports are growing as the North Sea declines. Imports will flatten off within a decade due to price-led demand drops.

After a flat period gas demand growth will continue, particularly for transport fuel substitution. Imports are thus expected to progressively increase from all the gas producing areas surrounding the region from 2010.

 

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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