IEA – The Implications of Oil and Gas Field Decline Rates, Sep

The document examines the impact of decline rates in oil and gas fields on global energy markets and investment needs.

Key findings include that discussions about the future of oil and gas often focus on demand, while supply aspects are underestimated. Understanding decline rates at existing fields is more important than ever. Nearly 90% of annual investments in oil and gas production since 2019 have been aimed at offsetting declines rather than meeting demand growth. Investments in 2025 are projected to be around USD 570 billion, and if maintained, moderate production growth is possible.