PR and Marketing

Daria Getsman

Daria Getsman

Head of External Relations


Oil Investments Opportunity


In a dynamic market demand and supply conditions are continually changing. According to the supply on the oil market the next few years are conditioned to be more limited, pointing out the price spikes to be determined. That is why to set a substantial increase in investment is essential to offset declining production at existing fields, even if demand for oil decreases.
World economists approved this estimation.
The main reason is that in the storages of oil production countries there is a lot of oil now, but in short term 2-3 years the supply on the market will become much more limited. Current oilfields cannot provide the necessary volume for nearly 20 years. That is why oil companies need to implement the huge investment to make up for decrease in production at aging fields.
For example, as expected in Statoil, production from existing fields by 2040 will have dropped down to 20-50 million barrels a day from 95 million barrels a day (last year), based on the annual reduction of 3% -6%.
Even if global demand by 2040 will have dropped to 80 million barrels per day, Statoil and other major oil companies will need to identify and start development of fields that will produce 30-60 million barrels a day, to make up for a decrease in oil production in old fields.
And now the indefinite point is whether the pace of investment sufficient enough to increase the supply of the necessary amount.
Since many countries are highly dependent on oil production and oil revenues, these investments will be just the only way to preserve the revenue side of their budgets.
If I’m right here we can find a huge new market to implement our knowledge and equipment.
I believe any crisis is a great possibility in just the same way.

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