SOUTH AMERICA

(The Americas)

 

 

POPULATION:  mm

AREA (on):  km2

OIL PEAK:  (forecast)

 

SUPPLY

South American oil production is increasing after small declines from 1998 to 2003 as Venezuela struggled to maintain output. The increases are coming from the deep waters of Brazil and from NGLs associated with new gas developments onshore as well as new heavy oil developments in western and northern countries. Total oil production is forecast to keep growing until the 2020s as Brazil maintains its successful development program in deep waters.

Gas production is rising rapidly from new onshore regions, including Bolivia and Peru, and will continue to rise as new offshore regions in Brazil and, eventually, Venezuela are added.

 

DEMAND

Both oil and gas consumption are increasing as new sources allow countries to grow and enhance their gas infrastructure although in the short term supplies can be difficult to access for some countries.

Regional oil exports are rising rapidly but will flatten off after 2013. Significant new gas exports will also begin soon and will increase every year once new LNG trains start delivering gas to the USA.

 

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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