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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.
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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.
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.
Wood Mackenzie's clients include every major player in the global energy, metals and mining industries. We are recognised as a leading authority by international and national energy, metals and mining companies, leading financial institutions, governments and government agencies. We work with a range of diverse teams within our clients, from strategy and policy makers, business developers and market analysts, through to corporate finance, risk teams and investors.
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Insight | Dec 2016
Global Upstream: 5 things to look for in 2017
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