IEA reported an acceleration in production declines in the hydrocarbon fields, highlighting the need for new projects to maintain the current level.

In a recent report, the IEA analyzed data from 15,000 hydrocarbon fields, highlighting an acceleration in the decline of production due to the depletion of reserves. Almost 90% of investments are aimed at compensating for production losses, but these are not sufficient. The IEA Director, Fatih Birol, emphasized the need for new conventional projects to maintain production. The IEA estimates that investments in the oil and gas sector will reach 570 billion dollars by 2025.