Asset report

Oman Rub al Khali exploration basin

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Report summary

Exploration in Oman's Rub al Khali Basin over the last ten years has delivered excellent full cycle returns. Key oil and gas bearing plays are the Precambrian to Cretaceous oil play and a Paleozoic tight gas play. Returns were driven by the relatively high levels of oil in the total discovered volumes of just over 925 mmboe and by the relatively low levels of sub commercial discoveries in the mix. In particular the early years contributed to the returns achieved as PDO drilled fewer more carefully targeted wells and Occidental achieved success with an intensive campaign of near field drilling. The future outlook for exploration also looks positive with yet to find resources into the billions of barrels of oil equivalent for both oil and gas. Oil finds can be quickly and cheaply tied into existing infrastructure and if gas prices equivalent to those achieved in BP's Khazzan Makarem project are available to explorers then tight gas finds can also add value.

What's included

This report contains

  • Document

    Oman Rub al Khali.zip

    ZIP 3.74 MB

  • Document

    Oman Rub al Khali exploration basin

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  • Document

    Oman Rub al Khali exploration basin

    ZIP 3.90 MB

Table of contents

  • Key facts
  • Summary and key issues
  • Location maps
  • Participation
  • Key companies
  • Geology
  • Exploration
  • Reserves and resources
  • Development
  • Costs
  • Fiscal and regulatory
  • Economic assumptions
  • Economic analysis

Tables and charts

This report includes 60 images and tables including:

Images

  • Value creation versus investment (TYP period)
  • Value creation versus investment (outlook)
  • Exploration history map
  • Exploration wells by play
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Gross exploration wells completed by operator
  • Net exploration wells completed by participant
  • Commerciality index
  • Drilling activity by well type
  • Cumulative exploration wells by play
  • Discoveries and success rates
  • Discoveries by licence year and drilling year
  • Basin creaming curve
  • Volumes discovered by year
  • Average discovery size and volume per well by year
  • Exploration and appraisal spend
  • Exploration spend per well and average well depth
  • Brent and local oil price assumptions
  • Henry Hub and local gas price assumptions
  • Value creation, spend and volume discovered
  • Returns by drilling year
  • Breakeven price versus prospect size
  • Value creation versus investment
  • Cumulative discoveries by play
  • Cumulative volumes discovered by play
  • Paleozoic Gas
  • Precambrian to Cretaceous Oil
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Value of potential discoveries
  • Unit value of potential discoveries
  • Breakeven price of exploration
  • Discount rate breakeven price sensitivities
  • Breakeven price of exploration
  • Discount rate breakeven price sensittivities

Tables

  • Play level data
  • Key licence holders
  • Key companies: Table 2
  • Company success rates and discoveries
  • Key facts: Table 2
  • Geology: Table 1
  • Key basin data
  • Forecast data by Play (outlook)
  • Paleozoic Gas
  • Precambrian to Cretaceous Oi
  • Costs: Table 1
  • Costs: Table 2
  • Typical fiscal terms
  • Paleozoic Gas
  • Precambrian to Cretaceous Oil
  • Paleozoic Gas
  • Precambrian to Cretaceous Oil
  • Full-cycle economic analysis
  • Reserves and resources: Table 2
  • Reserves and resources: Table 4
  • Reserves and resources: Table 5
  • Paleozoic Gas
  • Precambrian to Cretaceous Oil
  • Average value of future discoveries and implied acreage value

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