Global crude oil and condensate production was 75.26mmbpd in 2022, an increase of 4.83% on 2021. The largest oil producing countries are the US, Russia and Saudi Arabia. Through to 2030, annual global oil production is forecast to increase by a CAGR of 0.01% to reach 75.34mmbpd. 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.
1. Irkinskoye West (Zapadno-Irkinskoye)
Irkinskoye West (Zapadno-Irkinskoye) is located in Krasnoyarsk Krai, Russia. This field is owned by Mercantile & Maritime Energy Pte. Ltd (1.25%), Rosneft Oil Co (85.00%), Vitol Holding II SA (3.75%) and operated by Vostok Oil. Production from this field is expected to begin in 2024 and is forecasted to peak in 2030, approximately at the rate of 0.45mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2089. The project is expected to have recoverable reserves of 3,813.06mmboe of crude oil and natural gas. Buy the profile here.
2. Eridu
Eridu is located in Al Muthanna, Iraq. This field is owned by Inpex Corp (40.00%), Lukoil Oil Co (60.00%) and operated by LUKOIL Overseas Iraq Exploration BV. Production from this field is expected to begin in 2025 and is forecasted to peak in 2048, approximately at the rate of 0.25mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2072. The project is expected to have recoverable reserves of 2,579.76mmboe of crude oil and natural gas. Buy the profile here.
3. May River (MEG Energy Corp.)
May River (MEG Energy Corp.) is located in Alberta, Canada. This field is owned by MEG Energy Corp (100.00%) and operated by MEG Energy Corp. Production from this field is expected to begin in 2026 and is forecasted to peak in 2031, approximately at the rate of 0.16mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2082. The project is expected to have recoverable reserves of 2,005.88mmboe of crude oil and natural gas. Buy the profile here.
4. Dover Commercial Project (PetroChina Canada)
Dover Commercial Project (PetroChina Canada) is located in Alberta, Canada. This field is owned by China National Petroleum Corp (100.00%) and operated by PetroChina Co Ltd. Production from this field is expected to begin in 2026 and is forecasted to peak in 2037, approximately at the rate of 0.25mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2078. The project is expected to have recoverable reserves of 1,825.64mmboe of crude oil and natural gas. Buy the profile here.
5. Voyageur South (Suncor Energy Inc.)
Voyageur South (Suncor Energy Inc.) is located in Alberta, Canada. This field is owned by Suncor Energy Inc (100.00%) and operated by Suncor Energy Inc. Production from this field is expected to begin in 2028 and is forecasted to peak in 2038, approximately at the rate of 0.25mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2080. The project is expected to have recoverable reserves of 1,781.99mmboe of crude oil and natural gas. Buy the profile here.
6. Yamburgskoye (Oil Rims)
Yamburgskoye (Oil Rims) is located in Yamalo-Nenets Autonomous Okrug, Russia. This 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 0.15mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2084. The project is expected to have recoverable reserves of 1,278.7mmboe of crude oil and natural gas. Buy the profile here.
7. Lewis (Suncor Energy Inc.)
Lewis (Suncor Energy Inc.) is located in Alberta, Canada. This field is owned by Suncor Energy Inc (100.00%) and operated by Suncor Energy Inc. Production from this field is expected to begin in 2028 and is forecasted to peak in 2034, approximately at the rate of 0.16mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2082. The project is expected to have recoverable reserves of 1,163.27mmboe of crude oil and natural gas. Buy the profile here.
8. Lula Oeste
Lula Oeste is located in Rio de Janeiro, Brazil. This field is owned by China Petrochemical Corp (2.76%), Galp Energia SGPS SA (6.45%), Petroleo Brasileiro SA (67.22%), Pre-Sal Petroleo SA (0.55%), Shell plc (23.02%) and operated by Petroleo Brasileiro SA. Production from this field is expected to begin in 2023 and is forecasted to peak in 2024, approximately at the rate of 0.14mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2061. The project is expected to have recoverable reserves of 919.65mmboe of crude oil and natural gas. Buy the profile here.
9. Uaru
Uaru is located in North Atlantic Ocean, Guyana. This field is owned by China National Offshore Oil Corp (25.00%), Exxon Mobil Corp (45.00%), Hess Corp (30.00%) and operated by Esso Exploration and Production Guyana Ltd. Production from this field is expected to begin in 2026 and is forecasted to peak in 2028, approximately at the rate of 0.25mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2056. The project is expected to have recoverable reserves of 890.65mmboe of crude oil and natural gas. Buy the profile here.
10. Buzios IX (Franco)
Buzios IX (Franco) is located in Rio de Janeiro, Brazil. This field is owned by China National Offshore Oil Corp (7.34%), China National Petroleum Corp (3.67%), Petroleo Brasileiro SA (88.99%) and operated by Petroleo Brasileiro SA. Production from this field is expected to begin in 2026 and is forecasted to peak in 2028, approximately at the rate of 0.22mmboed of crude oil and natural gas. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2056. The project is expected to have recoverable reserves of 885.66mmboe of crude oil and natural gas. 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.
