SKU: 47755
Author: Wood Mackenzie

Insight 01 August 2016

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Report summary

Asia has played a fundamental role in the growth of the Majors for over 100 years, but could this finally be coming to an end? Ambitious divestment targets are at the heart of most of the Majors' business plans for the next 12-18 month. With nearly US$40 billion of commercial value tied-up in mature and mid-life assets across Asia, we believe big moves are on the table. Against a backdrop of increasingly assertive NOCs, bureaucratic challenges and license expiries, now seems a logical time to slim down the portfolio. But who will buy these assets? And what will be the consequences for host governments if the Majors do sell?

Executive summary
A changing role for Asia and the Majors
Company by company analysis:
- Chevron – biggest name in town
- BP – been there, done that
- ExxonMobil – positioned for growth
- Total – big decisions ahead
- Eni – Looking for growth
Willing sellers willing buyers?

Tables and charts

This report includes the following images and tables:

Mature and mid-life fields held by the majors in Asia-Pacific with remaining NPV over US$100 million
2P reserves traded in Asia-Pacific (2010-2016)
Production outlook (indexed 2016) for Asian NOCs

Majors' global upstream portfolio by region
Majors' commercial portfolios in Asia Pacific
Mature and mid-life assets held by the majors in Asia-Pacific with remaining NPV under US$100 million