Azerbaijan, Baku, Jan. 16 / Trend A.Badalova /
The U.S. Energy Information Administration (EIA) predicts a significant increase in traditional oil production in the Caspian region by 2030.
Based on the EIA International Energy Review, in 2030 oil production in the Caspian region will reach up to 4.6 million barrels per day compared 2.3 million barrels per day in 2006.
EIA projected that in 2030, the total oil production of non-OPEC countries will amount to 63 million barrels per day compared to 50 million barrels per day in 2006. About 51 million barrels per day of the total amount will be produced traditionally. Production growth will be at the expense of Brazil, Russia, Kazakhstan and the United States, the agency forecasted.
According to EIA, the lack of capacity for new oil projects, as well as the decline in production from existing fields will lead to investing of the development of small fields. Thus, manufacturers will focus their efforts on the rational development of the operating fields.
EIA expects the strongest decline in oil production in the North Sea and Mexico. According to EIA forecasts, Mexico's oil production will fell to 1.9 million barrels per day in 2020, then increase to 2.3 million bpd in 2030, which is, nevertheless, at 1.4 barrels per day lower than in 2006.
OPEC countries' liquids production will increase by one percent annually and in 2030, it will reach 43.8 million barrels per day, 29.5 million barrels per day of which will fell to the Middle East, the agency forecasted. Saudi Arabia will remain the largest producing country in the organization. Its production will increase to 12 million barrels per day in 2030, the agency reported.
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