Increased field decline on mature fields is becoming visible: Rystad
HOUSTON -- For the first time since the 1980s, the industry will experience two consecutive years of decreased global E&P investment, according to the latest analysis by Rystad Energy.
A lot of the investment cuts have been related to new projects and shale drilling, but the company has also observed lower activity on mature producing fields.
This decreased activity is starting to show on the production side, with the decline rates starting to increase.
Higher declines were observed for several of the major non-OPEC countries, such as Russia, U.S., Canada and Norway in 2014 and 2015.
For 2016, the decline is expected to continue increasing and in terms of barrels, this represents a 700,000 bpd increase in the yearly decline from the mature oil fields.
