Current predictions point to the depletion of major oil fields will occur around 2057. Earlier estimates predicted the depletion around 2100 but increasing demand made it unlikely that oil will last that long.
As for the rate, estimates of overall decline in production in all wells around the world are on average somewhere between 3% and 8% per year. Some wells/fields are declining at far faster rates; others are still increasing their production rates (though not very many of those).
Click here to cancel reply.
Sorry,At this time user registration is disabled. We will open registration soon!
Don't have an account? Click Here to Signup
© Copyright GreenAnswers.com LLC