Wood Mackenzie estimates about 1 million more bpd (~100% increase) could be online w/n 2 years without significant capital investment. But it'd take $15-20 bn over the next 10 yrs to increase production by another 500k bpd to get closer to pre-Chavez peak of 3m bpd.
www.woodmac.com/blogs/energy...
What could change in Venezuela mean for oil production? | Wood Mackenzie
Explore how shifting US policy toward Venezuela, OPEC+ capacity audits, rising US gas prices, and surging data-centre demand are reshaping global oil, gas and power markets, with expert insight from W...
