SKU: 79545
Author: Wood Mackenzie

Insight 12 December 2017

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

2017 was the year the upstream industry began to feel a bit better about itself again. So as we head towards 2018 with prices bouncing above US$60/bbl, is there grounds for renewed optimism? We think so. Investment is stabilising and new project sanctions are on the up, a key barometer for confidence in the sector. Tight oil will also enter its second great phase of growth – with implications for global oil markets. And 2018 is shaping up to be a massive year for portfolio renewal, with over 15 billion boe of discovered resource opportunities (DROs) up for grabs in Brazil and the Middle East. But rapid growth does not come without its challenges. We assess the five key things to look for in 2018.

Global investment stabilising: unconventionals and deepwater edge ahead
Tight oil: growing pains
Service sector: opportunity knocks as costs hit rock-bottom
DROs: a massive year for resource capture
Fiscal: the search for 'fair share'

Tables and charts

This report includes the following images and tables:

Global upstream capex by theme, 2017 vs 2018
Upstream major project FIDs, 2007-2018 (forecast)

What's included

This report contains:

Global upstream: 5 things to look for in 2018

PDF 259.19 KB

Why buy this report?

After a year of renewed confidence in the upstream industry, our analysts predict that 2018 will continue to provide grounds for optimism. Use our forecast for the year ahead to help you:
• Identify global investment trends and spending patterns
• Understand how US tight oil economics will influence sector trends
• Compare our forecasts to your own to make informed investment decisions

Our upstream expertise is the backbone of our company.

With data rooted in the field, deep knowledge of market fundamentals, and proprietary asset valuation software, we place objective analysis at your fingertips.

Our report identifies key trends for the recovering upstream sector in 2018. It includes:
• Detailed financial data including forecasts for performance in 2018
• A ten -year overview of major FID projects, and those expected for 2018
• Our assessment of the opportunities and risks for the sector