Asset Report

Exploration trends - benchmarking by region

Get this report

$11,000

You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

- FAQs about online orders
- Find out more about subscriptions

17 December 2020

Exploration trends - benchmarking by region

Report summary

This report details regional trends in conventional exploration over 2010-2019. We analyse exploration performance across eight regions: Asia Pacific, Europe, Latin America, Middle East, North Africa, North America, Russia & Caspian and Sub-Sahara . Global investment fell to US$35 billion in 2019, around a third of peak investment in 2014. Regions characterised by a large proportion of deepwater, frontier opportunities generally saw the largest cuts, but all regions experienced big falls in investment. Our ten-year view shows a bleak picture in terms of value created, with only two of our eight regions achieving positive full-cycle value creation. Nevertheless, returns have improved and exploration has made its long-overdue recovery to making double-digit returns and creating value. We already see exploration returns of 11% in 2019, the highest calculated in over a decade. Full details are available to download in pdf and excel format.

Table of contents

    • Scope of report
    • Regional basin groupings
    • Key messages
    • Exploration investment and activity
    • Exploration and appraisal spend
    • Average spend per exploration well
    • Drilling by region
    • Discoveries and success rates
    • Reserves and resources
    • Total volumes discovered (by commerciality)
    • Number of giant ( 500 mmboe) discoveries
    • What does the average discovery look like?
    • Discovery and development costs
    • Discovery and development costs
    • Lead times from discovery to production
    • Economic analysis
    • Five-year full-cycle returns and value creation trends
    • Five-year full-cycle returns at the Base price
    • Ten year full-cycle value creation at Base & High price
    • Economic assumptions
    • Oil and gas price assumptions

Tables and charts

This report includes 1 images and tables including:

  • Regional basin groupings

What's included

This report contains:

  • Document

    Exploration Trends Benchmarking By Region Slides

    PDF 1.25 MB

  • Document

    Explorartion Trends Benchmarking By Region

    XLSX 308.25 KB