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The end of the upstream spending boom

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Report summary

Since the financial crisis in 2009 global upstream spending has been booming with annual growth rates between 13% and 15%. Development expenditure increased again in 2013 but at a slower rate less than 5% to around US$620 billion. When operating costs and exploration spend are added the upstream total will exceed US$1 trillion for the first time. Over the next three years we expect investment to remain flat or register modest growth as the spending boom subsides. The spending...

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  • Document

    The end of the upstream spending boom

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Table of contents

Tables and charts

This report includes 9 images and tables including:

Images

  • Actual and planned upstream capital spending*, 2008-2016
  • Global upstream spending in 2013
  • Capital expenditure in US Lower 48 and Gulf of Mexico shelf, 2008-2016
  • Planned upstream development expenditure* in 2013
  • Deepwater development spending, 2013 and 2016
  • High level trends in upstream capital cost inflation
  • Top fifteen companies by forecast upstream capital expenditure* in 2014 and 2015
  • Capital spending versus cost of production*, by company

Tables

  • Top ten* countries by upstream development spending, 2010-2016

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