This report examines how rapidly the production from different categories of field is declining and how this may be expected to change in the future. It also assesses how rapidly the remaining resources in a field or region can be produced. The topics covered include definitions and models of decline and depletion rates, illustrative examples and current estimates of regional and global average rates.
This report forms part of the TPA’s assessment of evidence for near-term physical constraints on global oil supply. The assessment addresses the following question: 'What evidence is there to support the proposition that the global supply of ‘conventional oil’ will be constrained by physical depletion before 2030?'