Total global crude oil and condensate production increased by 4.21% in 2023 when compared with 2022. The largest oil producing countries are the US, Russia and Saudi Arabia. Through to 2030, annual global oil production is forecast to decrease by a CAGR of 0.21%. GlobalData uses proprietary data and analytics to provide a complete picture of the global oil & gas fields segment. Buy the latest oil & gas field profiles here.
Here are the 10 largest upcoming oil fields globally, according to GlobalData’s oil & gas upstream fields database.
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1. Irkinskoye West (Zapadno-Irkinskoye)
Irkinskoye West (Zapadno-Irkinskoye) is located in Krasnoyarsk Krai, Russia. Production from this field is expected to begin in 2024 and is forecasted to peak in 2030, approximately at the rate of 0.45mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2085. Buy the profile here.
2. Eridu
Eridu is located in Al Muthanna, Iraq. This crude oil field is owned by Inpex (20.00%), Lukoil Oil Co (80.00%) and operated by LUKOIL Overseas Iraq Exploration. Production from this field is expected to begin in 2025 and is forecasted to peak in 2028, approximately at the rate of 0.25mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2071. Buy the profile here.
3. May River (MEG Energy Corp.)
May River (MEG Energy Corp.) is located in Alberta, Canada. This crude oil field is owned by MEG Energy (100.00%) and operated by MEG Energy. Production from this field is expected to begin in 2026 and is forecasted to peak in 2031, approximately at the rate of 0.16mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2081. Buy the profile here.
4. Dover Commercial Project (PetroChina Canada)
Dover Commercial Project (PetroChina Canada) is located in Alberta, Canada. This crude oil field is owned by China National Petroleum (100.00%) and operated by PetroChina Co. Production from this field is expected to begin in 2026 and is forecasted to peak in 2036, approximately at the rate of 0.25mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2077. Buy the profile here.
5. Voyageur South (Suncor Energy)
Voyageur South (Suncor Energy) is located in Alberta, Canada. Production from this field is expected to begin in 2028 and is forecasted to peak in 2037, approximately at the rate of 0.25mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2079. Buy the profile here.
6. Narrows Lake (Cenovus Energy)
Narrows Lake is located in Alberta, Canada. This crude oil field is owned and operated by Cenovus Energy. Production from this field is expected to begin in 2025 and is forecasted to peak in 2045, approximately at the rate of 0.14mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2087.
7. Yamburgskoye (Oil Rims)
Yamburgskoye (Oil Rims) is located in Yamalo-Nenets Autonomous Okrug, Russia. This crude oil field is owned by Gazprom (100.00%) and operated by Gazprom Neft. Production from this field is expected to begin in 2024 and is forecasted to peak in 2029, approximately at the rate of 0.15mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2084. Buy the profile here.
8. Venus
Venus is located in South Atlantic Ocean, Namibia. This crude oil field is owned by Impact Oil & Gas (20.00%), National Petroleum Corporation of Namibia (10.00%), QatarEnergy (30.00%), TotalEnergies (40.00%) and operated by Total E&P Namibia. Production from this field is expected to begin in 2030 and is forecasted to peak in 2028, approximately at the rate of 0.02mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2074.
9. Lewis (Suncor Energy)
Lewis (Suncor Energy) is located in Alberta, Canada. Production from this field is expected to begin in 2028 and is forecasted to peak in 2034, approximately at the rate of 0.16mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2081. Buy the profile here.
10. Bacalhau
Bacalhau is located in South Atlantic Ocean, Brazil. This crude oil field is owned by China Petrochemical (6.00%), Equinor (40.00%), Exxon Mobil Corp (40.00%), Galp Energia SGPS (14.00%) and operated by Equinor Brasil Energia. Production from this field is expected to begin in 2025 and is forecasted to peak in 2027, approximately at the rate of 0.21mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2060. Buy the profile here.
For more details on the upstream fields, buy the profiles here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
