Global Upstream Update: our favourite slides and topics – August 2022
Global Upstream Update: activity is increasing, but the rebound will be tempered by corporate discipline, inflation and development uncertainties, which include supply chain bottlenecks. Some projects will slip. Nord Stream is running at just 20% of capacity, with the possibility of Russian volumes to Europe ceasing altogether. As US Lower 48 producers weigh up participation in an LNG boom that will fill some of the gap, Azerbaijan’s huge gas resources are a longer-dated solution. Is Brazil still a good place to explore? There have been very few successes in a dismal run of results. In the Middle East and North Africa, momentum is building, with discoveries, activity and licence awards. In southeast Asia, the Timpan gas discovery could provide a much-needed boost to Indonesia’s flagging exploration efforts.