WESTERN EUROPE

(Europe/FSU)

 

POPULATION:  mm

AREA (on):  km2

OIL PEAK:  (forecast)

 

SUPPLY

Western European oil production, almost all from the North Sea, began to decline in 2000. This decline will continue despite new initiatives to promote exploitation of smaller fields.

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

 

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 in southern Europe and for fuel substitution everywhere. Imports are thus expected to progressively increase from all the gas producing areas surrounding Western Europe 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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