Exploration trends - benchmarking by region
This report details regional trends in conventional exploration over 2013-2022. We analyse exploration performance across eight regions: Asia Pacific, Europe, Latin America, Middle East, North Africa, North America, Russia and the Caspian and Sub-Sahara. Global investment fell by 50%-80% across most regions after the 2014 oil price downturn, with regions characterised by a large proportion of deepwater and frontier opportunities generally saw the largest cuts. The oil and gas exploration industry has put its house in order. A return to positive value creation is apparent and exploration has made its recovery to making double-digit returns. Full details are available to download in pdf and excel format.