Norway crude oil exports likely to cease by 2030

Norway's oil production peaked in 2001 and exports are likely to end by 2030, Norwegian business Web site E24 reported, citing a study by Professor Kjell Aleklett at Uppsala University in Sweden. Production at larger oil fields in Norway has decreased by 13% a year, while annual output at other fields has slumped 40%, a rate of decline that's likely to accelerate, Aleklett told E24. Production should have been limited at 1 million to 2 million barrels of oil a day in 2001, instead of the 3.6 million barrels a day that was produced, Aleklett said - this would have extended production to 2050.

- If you are new to Peak Oil, or if you are wondering about that last part, it would be a good idea to get a copy of Matt Simmons' excellent book Twilight in the Desert, and read up how pushing an oil field to its maximum production limit will do irreversible damage to the field, and how deliberately slowing down crude oil output could help not only to conserve the reserves for future use, but also limit damage to the oil field and allow more recoverable reserves to be extracted over time.

The oil and gas fields in the North Sea are of considerable interest to the peakoiler community. They are vitally important to the economies of the countries who own and operate them, especially Norway and the UK. They are prime real-life examples of peak oil production occurring despite the best technology that can be, and has been thrown at them. The fact that they are in decline and are well on the way to running out completely within most people's lifetimes is of huge strategic import. And, due to this, the Europeans having to rely more and more on Russia for their energy needs makes for a very interesting geopolitical situation. "Interesting", of course, is used the same way as it is applied in the classic saying : "May you live in interesting times".

Post a Comment:

Comments are closed for this entry.

« Singapore : Bread... | Main | Vietnam inflation... »

Most popular blog postings on lowem.log :

1. 2010 Honda Civic Hybrid preliminary specifications released
2. Singapore SIBOR rate falls to 0.69% in Jan 2009, lowest since Apr 2004
3. How to insert currency exchange rates into Google Spreadsheets
4. Live spot gold price quotes chart on COMEX
5. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
6. Singapore MRT rail network length to double by 2020
7. Singapore property market : Home prices fall 13.8% in Q1 2009
8. 2010 Honda Insight specifications released : 41 mpg, 1.3L, 98hp, i-VTEC, CVT

Featured articles on lowem.log :

1. ABC Guide to Beating Inflation in Singapore and Elsewhere
2. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
3. 2010 Honda Civic Hybrid preliminary specifications released
4. 2010 Honda Insight specifications released : 41 mpg, 1.3L, 98hp, i-VTEC, CVT
5. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
6. Peakoiler buys 2008 Honda Civic Hybrid FD3
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore SIBOR rate falls to 0.69% in Jan 2009, lowest since Apr 2004