Insight
What does Australia mean for the Majors?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The strategic challenges the Majors face in Australia represent a microcosm of the dilemmas they face across the globe. Australia is key for most of the Majors, and has been defined by vast capital spend on mega projects. Over US$150 billion went in to developing big offshore gas fields and new LNG infrastructure in Australia over the last decade. But the world has since changed. The market outlook is uncertain, the energy transition is accelerating, investor pressure is mounting. The entire peer group is embarking on strategic re-invention, some more radical than others. The Majors are carefully curating upstream portfolios to help them survive and thrive in a brave new world. We take a look at if - and how - Australian assets can deserve a place.
Table of contents
- Value protection is the priority
- New challenges warrant a new approach
- Eni – clean-up and clear-out?
- BP’s wildcatting days may not be over yet
- The test for TotalEnergies: decarbonize or divest?
Tables and charts
This report includes the following images and tables:
- Gorgon LNG project: impact on future cumulative cash flows from operating performance
- Majors’ upstream aggregate net cash flow 2021 to 2025
- Majors’ Australian portfolios
What's included
This report contains:
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