Shaping the global oil peak: A review of the evidence on field sizes, reserve growth, decline rates and depletion rates
By S. Sorrell, Jamie Speirs, R. Bentley, Richard G. Miller, E. Thompson. 2012
110 citations recorded by the source corpus.
This review paper summarises and evaluates the evidence regarding four issues that are considered to be of critical importance for future global oil supply. These are: a) how regional and global oil resources are distributed between different sizes of field; b) why estimates of the recoverable resources from individual fields tend to grow over time and the current and likely future contribution of this to global reserve additions; c) how rapidly the production from different categories of field is declining and how this may be expected to change in the future; and d) how rapidly the remaining recoverable resources in a field or region can be produced. It is shown that, despite serious data limitations, the level of knowledge of each of these issues has improved considerably over the past decade. While the evidence on reserve growth appears relatively encouraging for future global oil supply, that on decline and depletion rates does not. Projections of future global oil supply that use assumptions inconsistent with this evidence base are likely to be in error.
Subfields: Economics and Econometrics, Renewable Energy, Sustainability and the Environment
View Paper: https://www.semanticscholar.org/paper/2cce06a0b21c6ae301b52ce5a2677f012af40c9e
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Economics and Econometrics
In Renewable Energy, Sustainability and the Environment
Citations in the corpus
- Depletion of fossil fuels and anthropogenic climate change—A review (2013, background): “Taking conventional oil as an example, existing production has been found to decline at around 6% annually and this is a commonly accepted figure derived by several studies (Höök et al., 2009; Sorrell et al., 2012).”