Over the last 12 months, exploration has been materially affected by the sustained low oil-price. Many companies shifted away from exploration towards appraisal of discovered resource in an attempt to prove commerciality. However, despite the headline numbers from exploration in 2015 appearing stark, results have not been as negative as first appear. Explorers have been able to achieve more, with less as key discoveries in Egypt, Mauritania, Guyana and Colombia have provided a timely reminder of the potential upside from frontier exploration.
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Insight | Jan 2016
Global Exploration: 2015 in review
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