The speed at which crude oil is being prospected around the world varies from region to region. For example, in the US, prospecting increased with respect to 2009, partly due to the quest to locate non-conventional gas. Conversely, numbers in the North Sea were down. Rising costs and volatile crude oil prices throughout most of the year did not favour this activity.
Excluding Europe, production was up in all major geographic areas. North America recorded a 3.5% increase, while production in Central and South America also climbed, by 3.1%. Europe’s primary producers recorded a decline in production: Norway by 10% and the United Kingdom by almost 12%.
The Russian Federation occupied the top spot in terms of production in 2010, followed by Saudi Arabia, the United States and, in fourth place, China.
The hefty rise in proved reserves and a slight increase in production gave the reserves/production ratio a boost, up to 47.4 years.
- North America
- Central and South America (1)
- Europe
- CIS
- Africa
- Middle East
- Asia - Oceania
- WORLD TOTAL
- OPEC
- % OPEC/WORLD
- 564,7
- 280,1
- 112,4
- 610,1
- 328,5
- 1.081,0
- 248,5
- 3.225,3
- 1.552,8
- 48,1
- 565,8
- 325,6
- 168,5
- 640,2
- 226,5
- 595,5
- 254,9
- 2.777,0
- 894,2
- 32,2
- 458,2
- 534,2
- 252,8
- 592,0
- 471,6
- 1.209,6
- 380,1
- 3.899,5
- 1.666,7
- 42,8
- 462,6
- 493,2
- 209,7
- 640,5
- 485,6
- 1.251,5
- 391,5
- 3.934,6
- 1.703,8
- 43,3
- 481,4
- 486,0
- 198,3
- 656.5
- 459,3
- 1.156,4
- 383,1
- 3.820,6
- 1.574,7
- 41,2
- 497,9
- 501,3
- 179,4
- 675,1
- 473,2
- 1.162,9
- 398,2
- 3.888,0
- 1.597,1
- 41,1
- 12,8
- 12,9
- 4,6
- 17,4
- 12,2
- 29,9
- 10,2
- 100,0
- 41,1
Source: BP Statistical Review of World Energy and Oil and Gas Journal. Produced in-house
