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It comes from only a small group of declining fields in the North Sea.
This means that merely to maintain their reserve base, they have to replace the oil they extract from declining fields.
Worse, new discoveries tend to be smaller than in the past and to run dry faster.So oil firms must work doubly hard to replace declining fields and to increase output.
In the absence of reliable data, Mr Simmons tracks scientific papers published by Saudi oilmen to show that the issues concerning them are similar to the challenges faced by managers of declining fields elsewhere.
Another comforting signal to Holmes is that Russia is experiencing "flat and declining fields".
Tectonic shifts are already under way in their portfolios as they move out of declining fields in North America and the North Sea and push deeper into new regions with new technologies.
Similar(53)
Declining fielding skills do not help, either.
Production in one major terminal in Indonesia is sliding because of a declining field, and production in another in Norway is facing mechanical difficulties.
She compared it with "extracting oil from a declining field where you have to do more and more to get less and less out".
Many at the time thought ear surgery was a declining field because of the effectiveness of antibiotics in dealing with ear maladies.
Years of declining field-goal percentages in our celebrated professional league was the prophecy that our boys weren't going to convert their jumpers here with any earthshaking regularity.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com