RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2014-03-03 16:38:00

OWER 670,000 OIL & GAS WELLS

OWER 670,000 OIL & GAS WELLS

Over 670,000 new oil wells will need to be drilled in order to meet global energy demands according to a report published by energy business research group Douglas-Westwood.

The report states that global demand will increase by 17% by 2020 and the new wells are needed to meet this rise in consumption. 

DW’s ‘World Development Drilling & Production Forecast’ published today, states that in 2013 oil & gas development wells drilled totalled over 79,000, but in 2020 well numbers will need to exceed 106,000.

“As the easiest-to-access oil and gas reserves deplete, each year we have to drill more and more wells for less and less production per well. Over the period, numbers of development wells drilled need to grow 35% to enable oil & gas production to meet an expected demand growth of 17%,” said DW chairman, John Westwood. “This effect is most marked onshore where by 2020 we expect production to grow by 15%, whereas offshore production should grow at 21% due to developments in deepwater.”

Tags: OIL, GAS, WELL
Chronicle:
OWER 670,000 OIL GAS WELLS
2022, June, 28, 11:44:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
OWER 670,000 OIL GAS WELLS
2022, June, 28, 11:43:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
OWER 670,000 OIL GAS WELLS
2022, June, 28, 11:40:00
S.KOREAN NUCLEAR SUPPORT
South Korea’s new president, Yoon Suk-yeol, said on 22 June that in order to rebuild the nuclear industry that was “devastated by the previous administration”, the government will allocate KRW92.5 billion ($70 million) from the energy budget for the restoration of nuclear power generation capacity.
OWER 670,000 OIL GAS WELLS
2022, June, 28, 11:35:00
U.S. SMR FOR ROMANIA
Romanian company Nuclearelectrica and NuScale will cooperate with the US Trade and Development Agency (USTDA) on a series of engineering and design activities and studies, as well further technical analyses of the Doicești site, a former thermal power plant site which has been identified as a potential location for the SMR plant.
OWER 670,000 OIL GAS WELLS
2022, June, 28, 11:30:00
U.S. SOLAR POWER 25%
US Energy Information Administration reports a capacity factor of 25% for solar generation.
OWER 670,000 OIL GAS WELLS
2022, June, 28, 11:25:00
AUSTRALIAN SMART ENERGY
As energy is of national importance, a national policy, national rules and regulations are necessary. At the same time, we are facing massive changes in the energy sector.
OWER 670,000 OIL GAS WELLS
2022, June, 27, 11:45:49
OIL PRICE: BRENT NEAR $113, WTI ABOVE $107
Brent edged down 8 cents to $113.04 a barrel , WTI was at $107.38 a barrel, down 24 cents.
All Publications »