Wood Mackenzie stated that an oil supply gap is approaching. In case that oil demand peaks at 110 million b/d in 2036, the inexorable decline of fields in production or under development today creates a yawning gap of 50 million b/d by the end of that decade.
This gap could be filled with the preoccupation of the E&P sector. Harry Paton, Senior Analyst, Global Oil Supply, identifies the contribution from each of the traditional four sources.
- Reserve growth
12 million b/d or 24% will be produced...
https://safety4sea.com/technology-may-boost-future-oil-supply/