Global Upstream: 5 things to look for in 2017
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Report summary
We predict the cycle will turn in 2017, and confidence will start to return to the E&P sector, bringing the crushing two year investment slump to a close. E&P spend will rise by 3%, and at the forefront of the revival will be US tight oil. Costs will continue to fall, though only marginally. But 2017 will demonstrate how much more efficient the E&P industry has become. We predict double the number of FIDs compared to 2016, and an increase in profitability for explorers and developers.
Table of contents
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The global upstream recovery begins
- 1) Global investment will rise, reversing two years of severe decline
- 3) Fiscal rules will need to improve to attract scarce investment
- 4) Oil production still likely to rise; global gas markets oversupplied
- 5) Explorers will drill fewer, but better wells
Tables and charts
This report includes 1 images and tables including:
- FIDs per year, 2007-2017
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