Insight
Back in the black: global exploration review of 2018
Report summary
Exploration is back making money with a long-overdue recovery to double-digit returns. Our latest view of exploration results confirms all the hard work to cut costs and commercialise discoveries is bearing fruit. We already see exploration returns of 13% in 2018, the highest calculated in well over a decade. As these discoveries are appraised and projects move through the development cycle, we can expect these economics to improve further.
Table of contents
- Executive summary
- The story is only going to get better
- Big exploration is an exclusive club
- Large and giantdiscoveries
-
How exploration returned to profitability
- Can this exploration recovery be sustained?
- Further analyses
-
Appendix: Exploration performance modelling
- Fundamental principles
- Exploration spend
Tables and charts
This report includes 9 images and tables including:
- Full-cycle exploration returns 2009-2018
- Exploration value creation 2009-2018
- Volumes discovered
- Volume growth over time
- Volumes discovered by company in 2017
- Volumes discovered by company in 2018
- Large 2018 discoveries
- Top 15 countries by conventional new field discovered volumes
- Weighted average lead-time from discovery to first production
What's included
This report contains:
Other reports you may be interested in
05 February 2019
Exploration Service: the magnificent seven
Insight
Exploration Service: the magnificent seven
To help you understand the how, why, where and who, the Exploration Service has published a wealth of thought-provoking and reports.
$1,30011 August 2022
Neptun Deep (Domino and Pelican Sud)
Asset Report
Neptun Deep (Domino and Pelican Sud)
The giant Neptun Deep gas project in the Black Sea will provide Romania's first-ever deepwater production. OMV Petrom (50%), a ...
$4,40019 January 2023
Continental Europe upstream: 2022 in review
Insight
Continental Europe upstream: 2022 in review
From the Netherlands to the Black Sea and East Mediterranean, did Continental Europe’s upstream sector deliver on its plans?
$1,350