Future of deepwater, Middle East hydrocarbon supplies

Since the 1970s the International Energy Agency, through its World Energy Outlook publication, has provided the most reliable energy projections of the world's energy future. IEA analyzes oil and gas supply projections based on its own projected combined commodity price, together with estimates of spending on finding and developing resources and the world's hydrocarbon resources (proven, possible, and probable). The most recent publication outlines two major conclusions: First, oil supply is expected to grow to 115 million b/d in 2020 from 76 million b/d in 2000. Second, gas supply is expected to grow to 3.5 billion tonnes of oil equivalent (toe)/year from 2.2 billion toe/year dur...

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