December 2019 UPDATE

UPCOMING EVENTS

SEAPEX Vietnam Meeting
January 16, 2020
Ho Chi Minh, Vietnam
For more information,
please click here

Rystad Energy Energy Transition Information Session
January 21, 2020
Houston, United States
For more information,
please click here

Rystad Energy Energy Transition Information Session
January 23, 2020
New York, United States
For more information,
please click here

Rystad Energy Gullkronen Awards 2020
January 28, 2020
Oslo, Norway
For more information,
please click here


SAVE THE DATE: IP Week Information Session 2020
February 24, 2020
London, United Kingdom
For more information,
please click here


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INDUSTRY VIEW

"Wildcat Exploration: Unlocking the Frontier"
Recently, the upstream industry overall has been reluctant to invest in exploration, especially in wildcat wells, yet between 2013 and 2019, the north-western part of Europe (particularly Norway and the United Kingdom) has seen some success in unearthing additional resources through wildcat exploration.
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"Australia's Perth Basin gas output to overtake Cooper Basin by 2024 despite low prices"
Rystad Energy’s base-case production profile for the Perth Basin in Western Australia has it reaching a peak gas production rate of over 400 million cubic feet per day (MMcfd) by about 2024, surpassing that of South Australia’s once mighty Cooper Basin.
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"E&P 2020 Forecast: Deepwater bucking the trend"
Rystad Energy is forecasting that overall global upstream investments in 2020 will decrease by around 4%. Investments in shale/tight oil are expected to contract the most next year by almost 12%.
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"Big E&P spending still needed, but fields with break-even above $60 are priced out"
Energy projects that need oil prices above $60 per barrel in order to break even risk being uncommercial going forward, according to Rystad Energy. However, massive investments in exploration and sanctioning are still needed to meet growing global demand.
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"Diving deep into the Mediterranean frontier"
Based on currently available geophysical data, the Lebanese government estimates that the offshore oil and gas frontier areas in the East Mediterranean may hold around 25 trillion cubic feet of natural gas reserves, though this has yet to be proven.
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"40% of Norway's offshore production electrified by 2025"
Norway has over the years taken several steps to reduce its upstream emissions through electrifying offshore platforms, reducing flaring volumes, installing carbon capture and storage (CCS), and other energy efficiency measures.
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"North American shale supply set to grow even if oil prices drop"
North American shale supply will continue growing even in an environment with lower oil prices, Rystad Energy forecasts.
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"Non-OPEC production is growing at record speed"
Oil production from non-OPEC countries is expected to grow at record speed in 2020, creating a headache for the Organization of the Petroleum Exporting Countries (OPEC), which is scheduled to meet this week in Vienna to discuss extending oil production cuts.
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"Global oil stocks will balloon if OPEC fails to agree on deeper production cuts"
Barring additional oil production cuts by OPEC in 2020, Rystad Energy forecasts a substantial build of global crude stocks and a corresponding drop in oil prices.
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"2019 ends on a low note, offering a gloomy start to 2020"
The global oilfield services market saw year-over-year revenue decline 3% in the third quarter this year, the first quarter to post negative growth since 2Q 2017.
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"Midland North and Delaware New Mexico dominate list of low-cost shale assets"
In January 2019, a piece of Rystad Energy analysis concluded that the economics of commercial acreage positions with significant activity would remain robust in a $50 WTI world.
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"Batteries set to enter NSW market in 2020"
The clean energy transition in New South Wales (NSW) is about to get a boost from the state government’s new Emerging Energy Program.
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"Greenfield developments in Central Asia ensure stable oil supply in the medium term"
Oil production in Central Asia has remained rather stable since 2010 and is currently trending at around 2.9 million bbl/d.
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