Insight
Oil and gas exploration – doing more with less
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Report summary
The exploration industry is challenged by rising technical complexity, higher costs and declining returns. This presentation, delivered at the European Association of Geoscientists and Engineers (EAGE) 2014 conference Forum in Amsterdam, illustrates the problem and considers some areas where solutions may lie.
Table of contents
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The exploration and development industry is under stress
- Framing the problem
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The exploration industry’s stress is not a volume problem
- Discovery trends measured in barrels continue to be encouraging
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Explorers must drill to deeper targets and/or in deeper water
- These new finds involve increasingly difficult technical challenges
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Tough trends in exploration lead many to focus elsewhere
- Unconventional plays are now the primary growth option for around half the industry
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Complexity is increasing
- Rising technical and commercial complexity has not been matched by higher prices
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Where might solutions lie?
- Scope for improvement from many diverse themes
Tables and charts
This report includes 5 images and tables including:
- Oil and gas exploration – doing more with less: Image 1
- Oil and gas exploration – doing more with less: Image 2
- Oil and gas exploration – doing more with less: Image 3
- Oil and gas exploration – doing more with less: Image 4
- Oil and gas exploration – doing more with less: Image 5
What's included
This report contains:
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