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Asia-Pacific upstream: 2016 in review - companies cut back, governments slow to react

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03 January 2017

Asia-Pacific upstream: 2016 in review - companies cut back, governments slow to react

Report summary

At the end of a gloomy 2015, our predictions for what to look for in Asia Pacific in 2016 centred around four key themes of exploration, development, the corporate landscape and fiscal reform. Overall, we hit the mark on most, but the magnitude of the slowdown exceeded expectations, with M&A activity and fiscal reform slower to progress than anticipated. Nearly 250,000 boe/d of production was lost as companies cut their cloth as per their means, scaling back E&A spend, deferring Final Investment Decisions (FID), reducing corporate debt and pruning portfolios. Looking back at 2016, we outline where we got it right, what we missed and some of the surprises we saw in Asia-Pacific's upstream sector.

Table of contents

  • Wood Mackenzie's 2016 predictions
    • Bite sized discoveries dominate the exploration landscape...
    • ...but the frontier remains risky; flexibility in new acreage awards is key
  • Development
    • Regional players rise to the occasion as Majors/Large Caps tentatively take action
    • So what about the NOCs?
  • Fiscal
  • Appendix

Tables and charts

This report includes 9 images and tables including:

  • Asia-Pacific upstream: 2016 in review - companies cut back, governments slow to react: Image 1
  • Licence awards by country 2012-2016
  • E&A drilling activity 2012-2016
  • Upstream capital expenditure 2015-2021
  • Asia Pacific projects aiming to FID in 2016 (at year end 2015)
  • Top 10 discoveries in 2016
  • 2016 discovered resources by country
  • Announced M&A spend by theme 2012-2016
  • Net Asia Pacific buyers/sellers (2012-2016)

What's included

This report contains:

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    Asia-Pacific upstream 2016 in review.xls

    XLS 873.50 KB

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    Asia-Pacific upstream: 2016 in review - companies cut back, governments slow to react

    PDF 967.38 KB

  • Document

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    ZIP 1.53 MB

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