Company Report
Maersk Oil & Gas oil and gas exploration summary
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Report summary
Maersk Oil has discovered nearly 1.4 billion boe of resource over the last decade, although much of this has struggled to reach commercial status. Maersk Oil became part of Maersk Energy in September 2016. Following the disappointing return from exploration, its strategy was revised to focus the portfolio in fewer geographies to increase its prominence in certain basins. These included the greater North Sea and Kenya, where it successfully added low-cost volumes to underpin a future development base. Maersk Oil was acquired by Total in August 2017. Subsequently we expect portfolio reassessment, since high-grading of Total's diverse exploration portfolio is central to its new strategy. Maersk's exploration portfolio and plans will be ranked against Total's diverse opportunity set. Full details are provided in our report, and all data and analysis can be downloaded in excel and pdf format.
Table of contents
- Executive summary
-
Strategy
- Upstream strategy
- Exploration outlook
- Evolution of exploration strategy
- Investment and costs
-
Exploration
- Well data
- Reserves and resources
- Production
-
Valuation
- Johan Sverdrup: a transformational asset
- UK dominated exploration but with dwindling returns
- Deepwater potential remains for Total
- Decreasing returns from Maersk's core legacy areas
Tables and charts
This report includes 23 images and tables including:
- Executive summary: Image 1
- Ten year performance summary
- Exploration & appraisal spend and reinvestment
- Exploration & appraisal spend by water depth
- Exploration & appraisal spend by basin maturity
- Discovery costs by water depth
- Discoveries (2007 to 2016)
- Volumes discovered by year
- Volumes discovered by water depth
- Volumes discovered by country
- Volumes discovered by basin
- Production from new field discoveries and unconventionals
- Full-cycle economics
- SWOT Grid - Pre-Total deal
- Net active exploration acreage by water depth
- Net active conventional acreage by country
- Gross exploration & appraisal wells by basin and sector
- Exploration wells drilled and spend per well
- Exploration success rates
- Full cycle value creation by year
- Exploration returns by year
- Value creation by reserve category
- Value creation by water depth
What's included
This report contains:
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