Discovered resources progression: 5 things to look for in 2022

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This coming year will see a growing emphasis on short cycle upstream opportunities of discovered resources progression. With all upstream investments increasingly in the public eye, we expect incumbents to focus on incremental brownfield opportunities as they’re more favourable due to their lower visibility relative to greenfield exploration. For new unconventional play developments, look beyond North America. NOCs will lead this chase, focusing on their domestic basins. We are watching China and Saudi Arabia in 2022. Local IOCs will look to progress unconventionals in Australia. Decarbonisation will be an important objective. We see growing interest in use of CO2 for enhanced recovery, particularly where policy support is strong, such as in the US.

Table of contents

  • Executive Summary
  • 1. Incumbency will speed discovered resource progression
  • 2. Gas FIDs will eventually begin to overtake oil, but not in 2022
  • 3. NOCs will lead the chase of international unconventional plays
  • 4. Brownfield optics will become an advantage over greenfield
  • 5. Policy support will drive enhanced recovery investments

Tables and charts

This report includes 2 images and tables including:

  • Gas proportion of 2022 – 2025 FID reserves
  • What we’re watching in global unconventional investment and exploration

What's included

This report contains:

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    Discovered resources progression: 5 things to look for in 2022

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