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6 Pages

Asia-Pacific upstream: 2015 in review

Asia-Pacific upstream: 2015 in review

Report summary

Exploration – The impact of lower oil prices on exploration budgets has been felt with a 35% reduction in exploration drilling and a 63% fall in discovered volumes.  Licensing activity also fell dramatically, with many regional governments now looking at how to improve their offerings in order to secure future investment.

Development - Reduced corporate cash flows have led operators to cut development drilling, reduce investment in mature fields and postpone new investment decisions. Upstream development expenditure in Asia-Pacific fell 23% to US$99 billion in 2015, and is set to fall further in 2016 as a number of Australian LNG projects reach completion.   

Corporate - The gap between buyers and sellers price expectations led to a depressed Asia-Pacific M&A market in 2015. However, as the industry adapts to a 'lower for longer' outlook, companies are coming under increasing pressure to reshape their portfolios for the new price environment. 

What's included?

This report includes 2 file(s)

  • Asia-Pacific upstream: 2015 in review PDF - 316.66 KB 6 Pages, 1 Tables, 7 Figures
  • Asia-Pacific upstream 2015 in review.xls XLS - 253.00 KB


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  • Exploration and licensing
    • Material resource upgrades, but a lack of wildcat success...
    • …and a lukewarm response to new acreage offerings
  • Development
    • Australia LNG ramp-up begins…
    • …but an increasing number of project deferrals
  • Corporate
    • First signs of IOCs reshaping portfolios for new price environment…
    • …as NOCs look for other means to grow

In this report there are 8 tables or charts, including:

  • Exploration and licensing
    • Licence/acreage awards by country 2011-2015
    • E&A drilling activity 2011-2015
    • Top 10 Asia-Pacific discoveries in 2015
    • Discovered volumes by country in Asia-Pacific
  • Development
    • Australia LNG production 2015-2020
    • Upstream capital expenditure 2014-2020
  • Corporate
    • M&A deal activity 2011-2015
    • Top 5 Asia-Pacific M&A deals in 2015
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