What is the average life of oil well?

The average lifespan of an oil well varies significantly depending on factors such as location, technology, and reservoir characteristics, but it typically ranges from 20 to 40 years. Initially, production rates are high, but they often decline over time due to depletion of the reservoir. Enhanced recovery techniques can extend the productive life of a well, sometimes allowing it to remain operational for several decades. Ultimately, the life of an oil well is influenced by economic viability and technological advancements.