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17 Pages

PETRONAS oil and gas exploration summary

PETRONAS oil and gas exploration summary

Report summary

PETRONAS' conventional exploration programme delivered 4.9 billion boe of new field reserves between 2005 and 2014, with over 80% of volume additions from domestic exploration - around 350 mmboe each year. The company has had limited success with high-impact deepwater exploration outside of Malaysia. It has however, achieved significant overseas success in onshore, oil-prone Sub-Sahara African basins; exploration in Sudan, South Sudan and Chad generated over a fifth of the company's development value, even though it delivered just 5% of the company's total discovered volumes. Ultimately, non-domestic exploration will need to play a more pivotal role if PETRONAS is to create a sustainable international portfolio and achieve its aim to be one of the top E&P companies globally.

What's included?

This report includes 2 file(s)

  • PETRONAS oil and gas exploration summary PDF - 533.96 KB 17 Pages, 5 Tables, 20 Figures
  • Petronas.xls XLS - 662.50 KB


Affected by supply and demand, the economy of individual countries and technological breakthroughs, oil and gas exploration is an industry in constant motion. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.

This Exploration Summary report quantifies the company's exploration volume and value performance over the past 10 years, and reviews its outlook for future success.

Businesses can use this report to get a detailed analysis of this company, what exploration areas they're involved in, what wells to watch and how well placed they are. It will help you understand company performance and shows how the best explorers have achieved their success.

Wood Mackenzie benchmarks exploration results for over 40 companies. Our analysts provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies. We are the established global industry standard for oil and gas exploration performance.

  • Executive summary
  • Strategy
    • Upstream strategy and exploration outlook
    • Evolution of exploration strategy
  • Investment and costs
  • Exploration
    • Well data
  • Reserves and resources
    • Scope of this report
  • Production
    • Production from new field discoveries and organic unconventionals
  • Valuation
    • Lack of commercial success impacts value
    • Malaysia continues to deliver volumes and value
    • African onshore oil is key to international success
    • Perseverance starting to pay off in South East Asia
    • PETRONAS has struggled to build critical mass beyond Sub Saharan Africa and Asia

In this report there are 25 tables or charts, including:

  • Executive summary
    • Basins drilled and major discoveries 2005-2014
    • Ten year performance summary
  • Strategy
    • Strategy: Table 1
    • Net active exploration acreage by water depth
    • Net active exploration acreage, excl. Malaysia
  • Investment and costs
    • Exploration & appraisal spend and reinvestment
    • Exploration & appraisal spend by water depth
    • Exploration & appraisal spend by basin maturity
    • Discovery costs by water depth
  • Exploration
    • Gross exploration & appraisal wells by basin and sector
    • Exploration wells drilled and spend per well
  • Reserves and resources
    • Top 40 discoveries (2005 to 2014)
    • Reserves and resources: Image 1
    • Reserves and resources: Image 2
    • Reserves and resources: Image 3
    • Reserves and resources: Image 4
    • Volumes discovered by country (excluding Malaysia)
    • Volumes discovered by basin (excluding Malaysia)
  • Production
    • Production: Image 1
  • Valuation
    • Full-cycle economics
    • Valuation: Image 1
    • Valuation: Image 2
    • Full cycle value creation - Malaysia vs International
    • Value creation by reserve category
    • Value creation by water depth
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