| |
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


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.

Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in upstream commercial data and analysis.

  • 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
Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

Questions about this report?

Frequently Asked Questions
  • Europe: +44 131 243 4699
  • Americas: +1 713 470 1900
  • Asia Pacific: +61 2 8224 8898
contact us

Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

Our 500+ analysts are based in the regions they cover, cultivating an unrivalled depth of understanding to help clients accurately identify new opportunities, define their strategy and improve business performance.

At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.