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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

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

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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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