In The Spotlight
Accelerating decline in output from existing oil and gas fields: IEA
Declines in output from existing oil and gas fields globally have accelerated – largely due to a higher reliance on shale and deep offshore resources – but are lower in the Middle East than other parts of the world, according to a new report from the IEA
The new report, 'The Implications of Oil and Gas Field Decline Rates', draws on production data from around 15,000 oil and gas fields from around the world, and highlights the wide variation in decline rates across field types and geographies, with production from larger fields declining more slowly than from smaller fields, and offshore fields declining more quickly than onshore fields. The declines rates for the Middle East and Russia, which are home to the majority of conventional onshore supergiant fields, are therefore much lower than those elsewhere. This could mean that oil production from existing fields would become more concentrated among the OPEC member countries and Russia, who could see their share of global oil production rise from 43% today to 53% in 2035 and more than 65% in 2050, according to the IEA.
In Saudi Arabia and the UAE, where major upstream expansion projects are underway, production growth from approved projects, along with existing spare capacity and continued investment in existing projects, can more than offset the loss of production from natural declines, especially as decline rates are relatively low in both countries.
Onshore supergiant oil fields in the Middle East decline at less than 2% per year, while smaller offshore fields in Europe average more than 15% per year, according to the report. Tight oil and shale gas decline even more steeply: without investment, output falls by more than 35% over one year and a further 15% over a second year. The Middle East has the lowest oil post-peak decline rate at 1.8%, compared with global average annual post-peak decline rate of 5.6% for conventional oil and 6.8% for conventional natural gas.
IEA executive director Fatih Birol noted that nearly 90% of upstream investment annually is dedicated to offsetting losses of supply at existing fields. “Decline rates are the elephant in the room for any discussion of investment needs in oil and gas, and our new analysis shows that they have accelerated in recent years. In the case of oil, an absence of upstream investment would remove the equivalent of Brazil and Norway’s combined production each year from the global market balance. The situation means that the industry has to run much faster just to stand still. And careful attention needs to be paid to the potential consequences for market balances, energy security and emissions.”
The development of new resources would therefore be need to keep up the level of global oil and gas production. Even with continued spending on existing fields, more than 45mn bpd of oil and nearly 2,000 bcm of gas from new conventional fields would be required by 2050 to maintain production at today’s levels, according to the IEA.
The report also highlights that it has taken almost 20 years on average to move from issuing an exploration licence for oil and gas until first production. Around 230 billion barrels of oil and 40 trillion cubic metres (tcm) of gas resources have been discovered that have yet to be approved for development, mainly in the Middle East, Eurasia, and Africa. Developing these resources could add around 28 mn bpd and 1,300 bcm by 2050, the IEA says.
TotalEnergies launches construction of major Iraq projects
TotalEnergies has announced the start of the construction of the final two components of Iraq’s Gas Growth Integrated Project (GGIP) which it is operating alongside its partners Basra Oil Company and QatarEnergy
The 4-in-1 project comprises the recovery of gas that is currently flared at three oil fields in southern Iraq to supply electric power plants, the redevelopment of the Ratawi oil field, the construction of a 1 GWac (1.25GWp) solar farm and a seawater treatment plant. With total investment exceeding US$13bn, it aims to sustainably develop Iraq’s natural resources to improve the country’s electricity supply while contributing to its energy independence and reducing its greenhouse gas emissions. Following the start of construction of the 300 Mcf/d gas treatment plant and the 1 GWac solar facility at the beginning of this year, all parts of the multi-energy GGIP project are now in their execution phase.
Patrick Pouyanné, chairman and CEO of TotalEnergies, and His Excellency Saad Sherida Al-Kaabi, Qatari Minister of State for Energy Affairs, deputy chairman and CEO of QatarEnergy, met on 14 September in Baghdad with His Excellency Mohammed Shia al-Sudani, Prime Minister of the Republic of Iraq, and His Excellency Hayan Abulghani, Minister of Oil and Deputy Prime Minister, to announce the start of construction of the Common Seawater Supply Project (CSSP) and the full field development of the Ratawi oil field.
The CSSP will be built on the coast near the town of Um Qasr. It will process and transport 5 million barrels of seawater per day to the main oilfields in southern Iraq, thereby freeing up to 250,000 cubic meters of freshwater per day for irrigation and local agriculture needs. The plant will be operated by Basra Oil Company.
The Ratawi redevelopment was launched in September 2023. Phase 1 aims to increase production to 120,000 bpd and is expected to come on stream by early 2026. Phase 2 (full field development) will increase production to 210,000 bpd starting in 2028, with no routine flaring.
All 160 Mcf/d of associated gas will be fully processed thanks to the 300 Mcf/d Gas Midstream Project (GMP), whose construction began early 2025. The GMP, which will also treat previously flared gas from two other fields in southern Iraq, will deliver processed gas into the national grid where it will fuel power plants with a production capacity of approximately 1.5 GW, providing electricity to 1.5 million Iraqi households. An Early Production facility to process 50 Mcf/d of associated gas will start early 202,6 together with the Ratawi phase 1 oil production.
“We are delighted today to award the two final contracts of the Gas Growth Integrated Project, in particular the seawater treatment plant which has been long awaited by the oil industry in Iraq. In less than two years since the GGIP effective date in August 2023, TotalEnergies and its partners have fully executed their commitment towards the people of Iraq and launched all projects included in the multienergy GGIP projet, the best showcase of TotalEnergies transition strategy. All these projects will bring a significant contribution to the Iraq economy and employ during the construction phase 7,000 Iraqi nationals,” said Patrick Pouyanné. “Furthermore, I am proud to confirm that the first phase of the associated gas, oil and solar projects will start-up as soon as early 2026.”

The event will bring together national and international oil companies, technology pioneers, leading academics, and service providers to address the industry's most pressing challenges and opportunities. (Image source: Informa)
MEOS GEO 2025: Shaping the future of energy
The Middle East is set to reaffirm its leadership in the global energy sector with the upcoming Middle East Oil, Gas, and Geosciences Show (MEOS GEO 2025)
Scheduled for 16-18 September 2025 at Exhibition World Bahrain, this landmark event is more than just an industry gathering; it is a strategic platform embodying the region's commitment to innovation, collaboration, and sustainability in a rapidly transforming energy landscape.
Held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, The Crown Prince and Prime Minister of The Kingdom of Bahrain, MEOS GEO 2025 is recognised as the premier upstream oil, gas, and geosciences exhibition and conference in the Middle East. The event will bring together national and international oil companies, technology pioneers, leading academics, and service providers to address the industry's most pressing challenges and opportunities.
Driving energy leadership and sustainability
Under the theme "Energy for a prosperous future: Leading a sustainable tomorrow," MEOS GEO 2025 reflects the balance between energy security and environmental stewardship. The event will explore optimising hydrocarbon production, accelerating digital transformation, and advancing decarbonisation strategies.
A cutting-edge strategic & technical programme
The strategic conference will feature high-level panel discussions where global energy leaders tackle complex questions about balancing immediate energy demands with long-term transition goals. The technical programme will feature 123 specialised sessions covering the full spectrum of upstream energy industry challenges and innovations, providing practical knowledge and implementable solutions.
Collaboration and innovation at the core
Beyond knowledge-sharing opportunities, MEOS GEO 2025 serves as a hub for strategic collaboration. The exhibition floor will feature innovations from over 120 companies, while specialised zones will facilitate networking and partnerships.
Specialised feature zones
MEOS GEO 2025 offers specialised zones designed to foster innovation and knowledge exchange, including:
• Start-up zone for emerging companies.
• Digitalisation zone focused on cutting-edge digital solutions.
• Live Labs & Genius Talks stage for dynamic discussions.
• e-Poster zone for sharing research in digital formats.
• Young Professionals & Students Programme aimed at nurturing future talent.
Leading the future with purpose and sustainability
MEOS GEO 2025 exemplifies Informa's FasterForward strategy by embedding sustainability at its heart. From its focus on low-carbon innovation to the inclusion of SANAD as the Sustainability Sponsor, the event highlights emissions-reduction technologies and enhanced ESG practices. Initiatives such as showcasing hydrogen and geothermal exploration, alongside efforts to reduce waste, reflect a commitment to driving meaningful change.
Streamlined sponsorship highlights
The event's sponsorship lineup underscores its strategic importance in the global energy sector. Industry leaders such as SLB, and Saudi Arabian Chevron are among the key sponsors, alongside Alkhorayef Petroleum Company and Baker Hughes.
MEOS GEO 2025 is not just a trade show; it is a transformative platform where stakeholders can collectively chart a course toward a sustainable and prosperous energy future, blending traditional strengths with forward-looking technologies and practices.