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Exploration trends - benchmarking by region

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Report summary

This report details regional trends in conventional exploration from 2007-2016. We analyse exploration performance across eight regions: Asia Pacific, Europe, North America, Latin America, North Africa, Sub-Sahara Africa, Russia & Caspian and Middle East. Global exploration investment fell to just US$42 billion in 2016, half that of 2014 levels. In the face of collapsing oil prices, companies slashed budgets. Regions characterised by a large proportion of deepwater, frontier opportunities were hardest hit – the Middle East, following by North Africa and Sub-Sahara Africa, saw the biggest falls in spending. Our ten-year view shows a bleak picture in terms of value created thanks to the fall in global commodity prices. Only two of our eight regions achieved positive full-cycle value creation over the decade - Middle East and North Africa. Sub-Sahara Africa added more than 50 bnboe of conventional volume over the decade, following the opening of the East Africa gas province.

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  • Document

    Exploration Trends by region.xls

    XLS 777.50 KB

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    Exploration trends benchmarking by region.pdf

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Table of contents

Tables and charts

This report includes 4 images and tables including:


  • Summary and key issues: Image 1


  • Key facts - global summary
  • Assumptions
  • Key facts by region

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