Company report
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18 Pages

PETRONAS oil and gas exploration summary


PETRONAS oil and gas exploration summary

Report summary

PETRONAS has long been the dominant player in the Malaysian exploration and production industry. Through its wholly-owned subsidiary PETRONAS Carigali, the company aims to expand its international market share to become one of the top four E&P companies worldwide. Despite limited international exploration success, the company has developed a wide-ranging international portfolio. PETRONAS' upstream growth strategy has historically centred on gas-focused domestic exploration, and on technically challenging themes. These include Floating LNG, North American gas exports, deepwater development, and high-impact international exploration. Sustained low oil prices have brought the company's budget and strategy into focus. It was forced to cut up to US$4.6 billion of capital and operating expenditure in 2016, and expects to cut a further US$11.6 billion out to 2020.

What's included?

This report includes 2 file(s)

  • PETRONAS oil and gas exploration summary PDF - 584.79 KB 18 Pages, 5 Tables, 20 Figures
  • PETRONAS.xls XLS - 602.00 KB

Description

Affected by supply and demand, the economy of individual countries and technological breakthroughs, oil and gas exploration is an industry in constant motion. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.

This Exploration Summary report quantifies the company's exploration volume and value performance over the past 10 years, and reviews its outlook for future success.

Businesses can use this report to get a detailed analysis of this company, what exploration areas they're involved in, what wells to watch and how well placed they are. It will help you understand company performance and shows how the best explorers have achieved their success.

Wood Mackenzie benchmarks exploration results for over 40 companies. Our analysts provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies. We are the established global industry standard for oil and gas exploration performance.

  • Executive summary
  • Strategy
    • Upstream strategy
    • Evolution of exploration strategy
  • Investment and costs
  • Exploration
    • Well data
  • Reserves and resources
    • Scope of this report
  • Production
    • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
  • Valuation
    • Lack of commercial success impacts value
    • Malaysia continues to deliver volumes and value
    • African onshore oil is key to international success
    • PETRONAS has struggled to build critical mass beyond Sub Saharan Africa and Asia

In this report there are 25 tables or charts, including:

  • Executive summary
    • Basins drilled and all conventional & organic unconventional discoveries 2006-2015
    • Ten year performance summary
  • Strategy
    • SWOT grid
    • Net active exploration acreage by water depth
    • Net active exploration acreage, excl. Malaysia
  • Investment and costs
    • Exploration & appraisal spend and reinvestment
    • Exploration & appraisal spend by water depth
    • Exploration & appraisal spend by basin maturity
    • Discovery costs by water depth
  • Exploration
    • Gross exploration & appraisal wells by basin and sector (2006-2015)
    • Exploration wells drilled and spend per well
  • Reserves and resources
    • Top 40 discoveries (2006 to 2015)
    • Reserves and resources: Image 1
    • Reserves and resources: Image 2
    • Reserves and resources: Image 3
    • Volumes discovered by basin
    • Volumes discovered by country (excluding Malaysia)
    • Volumes discovered by basin (excluding Malaysia)
  • Production
    • Production: Image 1
  • Valuation
    • Full-cycle economics
    • Valuation: Image 1
    • Valuation: Image 2
    • Full cycle value creation - Malaysia vs International
    • Costs and development value by reserve category
    • Exploration returns by water depth
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