Decline and depletion rates of oil production: a comprehensive investigation

摘要: Two of the most fundamental concepts in current debate about future oil supply are oilfield decline rates and depletion rates. These related, but not identical. This paper clarifies definitions these concepts, summarizes underlying theory empirically estimates for different categories oilfield. A database 880 post-peak fields is analysed to determine typical levels, demonstrates that size oilfields has a significant influence on rates, with generally high values small comparatively low larger fields. empirical findings have important implications forecasting.