The 4 biggest oil fields in the world are in decline

Remember this from this week end?

Only around 50 super-giant oilfields have ever been found, and the most recent, in 2000, was the first in 25 years: the problematically acidic 9-12 billion barrel Kashagan field in Kazakhstan.

…In 2000 there were 16 discoveries of 500 million barrels of oil equivalent or bigger. In 2001 there were nine. In 2002 there were just two. In 2003 there were none.

So we’re stuck with the existing supergiant fields we already know. But we’re able to squeeze increasing proportions of their oil out, right? Well, up to a point.

The 4 biggest fields on the planet are now in decline, 3 officially.

DailyKos