--> --> Comparing Exploration Results Internationally, by Andrew Latham; #90052 (2006)

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Comparing Exploration Results Internationally

Andrew Latham
Upstream Consultancy, Wood Mackenzie, Houston, TX

This presentation will analyse:

  • Returns from exploration worldwide, which overall have improved over recent years. What are the key factors influencing this?
  • Volumes discovered from new field exploration have declined whilst companies have continued to grow their daily production. Both factors contribute to falling reserves replacement performance which, on an underlying basis, is now well below 100% for most companies.
  • Identification of the countries worldwide that offer the potential for new field discoveries in the multi-hundred mmboe+ scale that can make a difference even for the Supermajors.
  • Which companies have created greatest value over the past 10 years and why they have been successful?
  • In the future, what will be the most effective model for E&P companies in an environment of higher finding costs, lower field discovery sizes, and greater international competition?