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"Behind the scenes of Permian Delaware success" Despite the prevailing low oil price environment, the Permian plays are expected to increase production by more than ~800 thousand boe/d in 2017 and lead the shale supply growth in the future. Although a lot of attention has recently been drawn to the activity in the Permian Midland Basin, comparatively little analysis has been dedicated to evaluating trends in the Delaware Basin. At the same time, the number of active horizontal rigs in Permian Delaware has more than doubled since 3Q 2016, surpassing activity in Permian Midland in October 2016. Read More
"Southeast Asia: Resiliency of LNG production amid overall decline" Oil and gas production from the Southeast Asia region is estimated to decline by 30% in 2025 compared to the current year, as new projects are not able to compensate for the natural decline in production of mature fields. However, output from the fields supplying LNG plants is expected to decrease the least, supported by several ramping up projects. This article assesses the Southeast Asia status and outlook, illustrated by the three key drivers: production, exploration success and spending. Read More
"Offshore market gears up as Petrobras plans an FPSO every quarter" by Aditya Ravi, Analyst, Rystad Energy (Published by Offshore Magazine) Aiming for 2.77 MMb/d of liquids production in 2021, Petrobras plans to install 19 FPSOs offshore Brazil over the next five years. With one FPSO producing and 10 under construction, Petrobras is currently negotiating contracts for a unit each on the Sepia, Libra, and Buzios fields. Tenders for the remaining five loom on the horizon, opening huge opportunities. Read More
"Vaca Muerta improving well performance and attracting new investment" By Bielenis Villanueva Triana, Global Lead Client Analyst, Rystad Energy (Published by Oil & Gas Financial Journal) Vaca Muerta is the most developed shale play outside North America and has attracted over 9 billion USD in capital investments since 2010 to drill nearly 700 wells in the play. Even though this level of activity and spending does not seem relevant when compared to shale plays in North America, it is of utmost importance for Argentina and the shale industry in general. More so, when earlier this year major companies signed commitments to invest further in the play. BP/Total/Wintershall/YPF have signed agreements to invest 1.15 billion USD in the play over the next four years, and Tecpetrol plans to invest 2.3 billion USD over the next three years to further increase their production in the play. By including this and other companies’ spending commitments in the play going forward, Figure 1 shows how the spending in Vaca Muerta is expected to increase yearly 35% in both 2017 and 2018 to reach ~2 billion USD per year. Read More
"Barents Spotlight" by Espen Erlingsen, Partner, Rystad Energy (Published by Offshore Engineer) The Norwegian sector of the Barents Sea is one of the key development areas for offshore Europe. Recent oil discoveries have proven the commerciality of this province and Rystad Energy expects investments and production to grow over the coming years. After being on a downward trend for more than 10 years, Western European production started to grow again in 2014. Since then, the production has increased every year and, for 2017, the total liquid production is expected to reach 3.3 MMb/d, up 400,000 b/d from 2013. Over the next 10 years, Rystad Energy expects that the production will continue to increase and surpass 3.5 MMb+/d in 2025. Figure 1 shows that the main growth is expected to come from the Norwegian part of the Barents Sea. Read More
"Rystad Energy’s Oil Markets View On US Oil Supply And Explanation Of Recent EIA Data Revisions" On September 12th, the EIA published its Short Term Energy Outlook (STEO) for Sep-17. The short term STEO estimates for US oil production from Jun-17 onwards has been too high given the EIA’s previous overestimation of Lower 48 ex-GoM (read: shale) production forecast and the latest Petroleum Supply Monthly (PSM) actuals for Jun-17 published on August 31st. Read More
"The status of oilfield service alliances" Efficiency programs introduced by a handful of E&P companies in 2013 have raised awareness of cost reductions in the upstream industry. This, together with the protracted weakness in commodity prices, has forced oilfield service suppliers to respond to the pricing pressure, resulting in several oilfield service alliances, joint ventures and mergers & acquisitions. Read More
Rystad Energy has the great pleasure of inviting you to our Annual Oil & Gas Summit 2017. Our Houston event last week was the biggest in it's history, London is on track to beat last's years attendance also. Join us to hear about our up-to-date market analyses and overview, industry perspectives and data analysis discussions.
October 4-5, 2017 London, United Kingdom
The Annual Oil & Gas Summit is free to attend for client companies. To request more information, please vist our dedicated website here. For queries about non-client pricing, please contact Rystad Energy.