VENEZUELA ENERGY IN FIGURES - Servicios IESA

A production increase is forecast for every country,
especially in Iraq with a growth rate of 4.59 percent
annual average.
To meet these projections, Venezuela should have
an annual growth of production equivalent to
1.04 percent.
UNCONVENTIONAL CRUDES EXPECTED PRODUCTION
5
4.5
MILLION BARRELS DAILY
4
3.5
3
2.5
2
1.5
VENEZUELA
CANADA
Source: International Energy
Agency World Energy Outlook 2012,
New Policies Scenario
and authors calculations
1
0.5
0
2011 2015 2020 2025 2030 2035
The annual growth rate of production of
unconventional oil in Venezuela will be much
higher than the overall growth rate of oil
production, reaching the equivalent of 5 percent
annual increase. This trend will have an effect
such that, for 2035, approximately 50 percent of
Venezuelan production will be of this type of oil.
As global oil demand, the IEA estimates a compound
annual growth of 0.53 percent, caused mainly by the
growth of Asian developing countries (2.12 percent) and
Latin America (0.85 percent) compared to lower U.S.
(-1.33 percent) and European demand (-0.92 percent).
PROJECTED DEMAND BY REGION
35
30
MILLION BARRELS DAILY
25
20
15
10
USA
EUROPA
ASIA
LATIN AMERICA
5
54
0
2011 2015 2020 2025 2030 2035