Oil megaprojects

[citation needed] A series of project tabulations and analyses by Chris Skrebowski, editor of Petroleum Review, have presented a more pessimistic picture of future oil supply.

In a 2004 report,[2] based on an analysis of new projects over 100,000 barrels per day (16,000 m3/d), he argued that although ample supply might be available in the near-term, after 2007 "the volumes of new production for this period are well below likely requirements."

By 2006,[3] although "the outlook for future supply appears somewhat brighter than even six months ago", nonetheless, if "all the factors reducing new capacity come into play, markets will remain tight and prices high.

For example, a relatively small number of giant and super-giant oilfields are providing almost half of the world production.

[1] The most important variable is the average decline rate for Fields in Production (FIP) which is difficult to assess.